Tag: ny life insurance

Life insurance fraud sends man to jail for murdering his son

Julie Campbell
Disability Insurance Fraud

A New York man who killed his son to be able to collect benefits payouts has been sentenced to prison. A man named Karl Karlsen, who, in November, pled guilty to a charge of second degree murder of his son in order to commit life insurance fraud, has now been sentenced to 15 years to life in prison. The man was able to collect the payout of $700,000 on his son’s policies, as he was the beneficiary. Karlsen, 53 years old, admitted to shifting a truck off a truck under…

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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 recovery reaches $1.1 billion

H. Cutner
Life Insurance Payment

New York regulators have said that by July 10, the nationwide investigation has already been very successful. According to regulators in New York, the investigations that have been going on nationwide have already resulted in the recovery of over $1.1 billion in unclaimed life insurance benefits. Previously, insurers had not been using available lists in order to discover recent deaths that had occurred. The Department of Financial Services in New York explained that many life insurance companies were failing to consult with the Social Security Administration lists of recent deaths…

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Life insurance benefits worth $665 million unclaimed in New York

H. Cutner
Governor Andrew Cuomo life insurance new york

Over 89,000 people across the United States will be receiving their portion of the total amount. Nearly 90,000 people throughout the country will be receiving their due portions of a total of more than $665 million in life insurance benefits to which they had no idea they were entitled. The governor of the state has said that these benefits payments are the outcome of a new law. Governor Andrew Cuomo announced that the life insurance payments have come from a law that was signed in 2012, which requires insurers to…

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New York insurance companies to pay customers $262 million following investigation

New York Governor Andrew Cuomo Insurance News

An investigation into New York insurance companies resulted in $262 million in payments. State Governor Andrew Cuomo has announced that several New York insurance companies selling life insurance products will be required to pay out $262 in unpaid benefits following a probe into the practices of firms across the state. What the investigation determined was that these life insurers were required to make $262.2 million in payments for 32,715 beneficiaries who were unaware that their deceased loved ones had policies for which a claim could be made. The New York…

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