Tag: life insurance payout

Life insurance claim behind a murder in New York

Julie Campbell
auto Insurance fraud

A man in the state has admitted to killing his son in order to collect on the $700,000 policy. A man in upstate New York has now admitted that he deliberately killed his son in a scheme to be able to allow him to collect on a life insurance policy that would pay him $700,000. The man quite suddenly admitted that he crushed his son under a truck in order to receive the payout. The guilty plea came from Karl Karlsen in a second degree murder case. It was put…

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Life insurance fraud culprits caught faking death

Julie Campbell
insurance fraud

A family has been accused of making false claims on a number of policies totaling over $1 million. A former resident of Toronto, Canada, was discovered living in California after having made claims on several life insurance policies in his name half a decade ago, allowing his family to collect. This fraud against the insurers racked up payouts of over $1 million for the individual’s family. The fraudsters took out a number of life insurance policies on the man and then faked his death so that they would be able…

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Life insurance policy beneficiaries can help to ensure they receive their due

New York Homeowners Insurance Rules

There are ways for people to find a deceased person’s coverage even when no record was left. Beneficiaries of life insurance policies have struggled with the ability to collect the payout from the coverage when their deceased loved one has failed to leave any record of the insurer or any other identifying information. Though recent crackdowns have encouraged insurers to make a larger effort, beneficiaries can do their part. There is no central database that a beneficiary can call in order to find out what life insurance company sold the…

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New York Attorney General institutes and inquiry into the operations of nine of the state’s life insurance companies

S.Vagus

Nine life insurance companies in New York have come under regulatory scrutiny and will be subject to inquiry regarding the identification of deceased customers and their beneficiaries. The state Attorney General has issued subpoenas to the companies to determine whether they have issued appropriate payouts on the policies of clients that have passed away. Few companies have confirmed the reception of the subpoenas but the Attorney General claims that the recipients are among the leaders in the life insurance market. The inquiry is a result of a growing number of…

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