Insurance Policy facts

While investigating facts about Insurance Policy Number and Insurance Policy For Bike, I found out little known, but curios details like:

The only instance of a kid dying from poisoned Halloween candy was when it was given to him by his own father. The father took out a $40,000 life insurance policy on his son beforehand. He gave the tainted candy to four other kids to set up the story that a local madman had poisoned the kids.

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Walmart used to take out life insurance policies on their employees and keep the payouts when they died, a practice colloquially known as “Dead Peasant Insurance”

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In my opinion, it is useful to put together a list of the most interesting details from trusted sources that I've come across answering what is a whole life insurance policy. Here are 50 of the best facts about Insurance Policy Specification and Insurance Policy For Car I managed to collect.

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Kids falling victim to tampered Halloween candy is an urban myth. None of the reports have found to be true. In one case a child died from heroin found at a relative's. In another a child died after eating cyanide-laced candy from his father who'd taken out a life insurance policy on him.
In Japan, avid golfers buy insurance to protect themselves on the course. They purchase it because if they get a hole-in-one, they have to buy gifts and drinks for their friends. The policy covers them for a party worth up to $4,900.
The astronauts aboard Apollo 11 couldn't afford the life insurance policy for an astronaut, so they hatched an alternate plan. Prior to their mission, the three signed hundreds of autographs while under quarantine for their families to sell if anything were to happen to them.
In Japan, avid golfers buy insurance to protect themselves on the course. They purchase it because if they get a hole-in-one, they have to buy gifts and drinks for their friends. The policy covers them for a party worth up to $3,000, for the low price of $65 a year.
Christa McAuliffe was gifted with a $1 million life insurance policy a week before the Challenger disaster in honor of her being the first teacher in space.
Over 50 of the largest life insurance companies in the US are being sued for not paying claims on millions of policies. In many cases the insurers knew the client was deceased and continued collected premiums via policy loans which would cause them to lapse over time.
Japanese golfers purchase 'hole-in-one insurance' because if they get a hole-in-one, they are obligated to host a party and provide food and drinks for guests. The policy covers up to $9,400
The Florida panhandle once accounted for 2/3 of lost limb claims in the U.S. due the common practice of taking out multiple insurance policies and then maiming oneself
A French man, Max Herve-George, has an insurance policy that lets him trade stocks based on last week's prices. It's been called the stupidest contract ever signed, and may end up with him owning the insurance company.
In the '80s, Van Halen lead singer David Lee Roth took out a $1 million paternity insurance policy. This protected him against any claims from overzealous fans that he had fathered their child.

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The city of Vernon, Florida has been nicknamed "nub city" because so many residents have intentionally amputated limbs, disguising the injury as an accident, as a means of insurance fraud. One man had 25+ open insurance policies and collected over $1,000,000 after amputating his left foot

While filming "2001: A Space Odyssey", the director Stanley Kubrick was so worried that an alien encounter was imminent that he took out an insurance policy incase aliens were discovered before his movie was released which he believed would have ruined his storyline. - source

There is a vault in the arctic that stores over 860k different varieties of food crop seeds as an insurance policy for the world’s food supply - source

Bill Cosby's legal fees are being paid by his home insurance since he has a policy that covers anything that might defame him.

Health care in Mexico is described as very good to excellent while being highly affordable, with every medium city in Mexico having at least one first-rate hospital. Because of this, some California insurers sell insurance policies that require members to go to Mexico where costs are 40% lower - source

What happens when a universal life insurance policy matures?

A man faked his death, lived next door without his kids knowing, fled to Panama with his wife on a fake passport, tried to build a hotel using his insurance money, after a visa policy change he returned home and pretended not to remember anything; his ruse was revealed by a Google search

How to sell life insurance policy?

Prize Insurance, which companies buy instead of prizes for competitions. The policy pays out in the unlikely event that somebody wins the competition.

Neil Armstrong, Michael Collins and Buzz Aldren couldn't afford the NASA life insurance policy. Also, before launch, the three signed hundreds of autographs to be given to their families should they not return so they would have valuable memorabilia to sell.

A insurance dispute following the 9/11 attacks of whether or not the attacks constituted 1 or 2 events under the policy terms

Life insurance companies had to pay the policies of both Bonnie & Clyde in full. They didn't yet have an exclusion for cases of deaths caused by criminal acts by the insured.

Expensive prizes at events-- like winning a car for sinking a full-court shot at a basketball game, winning $1,000,000 for a hole-in-one, etc.-- are usually paid for by insurance companies. "Hole-in-one insurance" is an insurance policy that protects against someone winning a huge prize.

What happens when an insurance policy is backdated?

A Continental Airlines Flight 11 went down in 1962 to a suicide bombing on board by a married man to help his family (Wife and a 5 year old daughter) claim $300,000 worth of insurance money. The policy was later voided and the widow was only able to claim a $3 refund.

The Heaven's Gate cult was covered by a niche insurance policy that would pay out $1 Million per person if they were abducted, impregnated, or killed by aliens.

There is something called a Viatical Settlement where you can buy someone's life insurance policy for less than it's worth, and basically bet they will die soon so you get paid more

During the Montgomery Bus Boycott, city officials tried to prevent black residents from carpooling by pressuring auto insurers to cancel their policies. Boycott leaders organized new policies through Lloyd's of London, a company that once insured slave ships.

There is an insurance policy issued against Alien Abduction, which can be redeemed if the insured person can prove they were abducted by aliens and returned to Earth. Some companies even offer policies for alien pregnancy.

How to download national insurance policy?

Companies used to be able to take out "Dead Peasant" life insurance on employees without their knowledge or consent. In one example Amergy Bank took out a policy on an employee undergoing chemotherapy for Brain Cancer. They fired him and collected the $4.7M life insurance payout when he died.

About the earliest example of insurance fraud. In 300BC, Hegestratos, a Greek sea merchant, took out an insurance policy against his ship and its cargo. He planned to sink his empty ship, sell the corn and keep the loan. He was caught in the act by his own crew, and drowned trying to escape

The earliest health insurance policies were designed primarily to compensate for income lost while workers were ill.

A French insurer created an investment product allowing individuals to put money in stock funds at prices from up to a week prior, allowing them to invest with perfect foresight. One man obtained a policy in 1997 for 8,000 Euros that should be worth more than 1 billion Euros by 2020.

A London based firm has sold more than 30,000 alien abduction insurance policies throughout Europe.

The religious cult, Heaven’s Gate, purchased alien abduction insurance which would cover up to 50 members and would pay out $1 million per person (the policy covered abduction, impregnation, or death by aliens).

It is possible to purchase an insurance policy against alien abduction. The insurance policy is redeemed if the insured person can prove they were abducted by aliens and returned to Earth. Some companies offer policies for alien pregnancy, alien examinations and death caused by aliens.

In the mid to late 90s it was a common "fast cash" investment to buy out the insurance policies of those infected with HIV/AIDS for say 20-40% the final payout.

Contrary to stereotype, Asians are actually better, safer drivers – And they get cheaper car insurance because of it. Asian driver can expect to save about $90 per year on their annual car insurance policy compared to an average American driver, all other things being equal.

In 1933, a man named Michael Malloy had 3 life insurance policies taken out on him by 5 men in New York. Malloy survived multiple attempts on his life, including being given antifreeze, a sardine sandwich with carpet tacks, forced exposure, and being hit with a taxi at 45 mph.

Corporations can purchase life insurance policies on their employees that pay out even if the employee has departed the company. This is called "dead peasant insurance".

“Downton Abbey” actress Shirley MacLaine has a $25 million insurance policy protecting her acting career from being interrupted by an alien abduction; while Jeniffer Lopez has her butt insured for $300 Million

Japanese golfers who hit a hole-in-one are expected to pay for lavish celebrations, leading many to buy insurance policies worth thousands of dollars in case they get lucky. The trend has been accompanied by suspicions that a golfer may invent a hole-in-one just to claim his party insurance.

Actor Vic Morrow demanded a one million dollar life insurance policy before filming helicopter scenes in Dirty Mary, Crazy Larry (1974). In 1982, Morrow was killed in a helicopter accident while filming The Twilight Zone (1983).

In the late 90s AIG sold finite insurance policies that allowed companies to fraudulently always meet their expected forecasts for income

This is our collection of basic interesting facts about Insurance Policy. The fact lists are intended for research in school, for college students or just to feed your brain with new realities. Possible use cases are in quizzes, differences, riddles, homework facts legend, cover facts, and many more. Whatever your case, learn the truth of the matter why is Insurance Policy so important!