Live Insurance News

Utah life insurance scam involved a man murdering his wife

December 11, 2013December 9, 2013 G. Turner

Conrad Truman has been accused of killing his wife in order to receive her benefits payouts. A man has been charged with a vicious form of Utah life insurance fraud that involved murdering his wife in order to be able to collect on her policy benefits of over $800,000. The man cried over her body in the hospital but was then said to be acting strangely and obstructed justice. After Conrad Truman killed his wife for her Utah life insurance, Heidy, a victim advocate reported that his behavior, attitude, and…

Life insurance payout behind woman’s intention to kill her husband

November 21, 2013November 19, 2013 Julie Campbell

A mother of two in England hired a hit man to murder her husband so that she could claim on his policy. In East Yorkshire, England, a 36 year old woman named Lisa Fairpo has been accused of hiring a man to kill her husband so that she would be able to collect on his massive life insurance policy. The intention was to murder her husband so that she would be able to use the payout to avoid bankruptcy. The case is now before the court and has revealed that…

Life insurance fraud culprits caught faking death

July 29, 2013July 29, 2013 Julie Campbell

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…

Life insurance bill takes aim at reducing fraud

January 10, 2013April 30, 2013

Massachusetts Governor Deval Patrick is now deciding on his approval for regulations in the industry. Deval Patrick, the Governor of Massachusetts, is currently considering a bill that has been created in order to help to combat life insurance fraud by adding regulations to brokers and financial service companies that purchase policies from cash starved policyholders and then receive the benefits upon the death of those individuals. The sale of an individual’s policy for a fraction of its settlement total is both legal and common in Massachusetts. This is the case…