life insurance

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Pastor Charged With Killing Disabled Man

Police say preacher paid hitman with $50K in church funds

(Newser) - Baltimore police say a pastor has admitted to killing a mentally disabled and blind man to collect on his life insurance money, the Baltimore Sun reports. Charged yesterday, Kevin Pushia, 32, confessed to hiring a hit man with $50,000 in church funds to kill Lemuel Wallace—one of several...

US Extends Bailout to Life Insurers

Treasury throwing a lifeline to a third industry

(Newser) - The Treasury Department has decided to give struggling life insurance companies access to federal bailout funds, insiders tell the Wall Street Journal. The industry—which had earlier seemed largely immune to the credit crisis—has been hit hard by stock market and real estate declines, leaving some firms on the...

AIG's Woes Point to Larger Insurance Crisis

Federal aid may offer AIG a competitive advantage in ailing industry

(Newser) - AIG’s troubles were quickly blamed on a single, obscure wing of the company, but its problems extend to its core life-insurance division—underscoring dangerous weaknesses across the entire industry and pointing to the possibility of a second financial crisis, the Los Angeles Times reports. What's more, by offering AIG...

As Life Insurers Face Losses, Next Bailout Decision Looms

Life insurers, a key cog in capital markets, seek TARP funds

(Newser) - Life insurance companies, an oft-overlooked yet important cog in the financial infrastructure, haven’t been immune to tumbling markets, the Wall Street Journal reports, which are eroding both their portfolios and consumer confidence. A Dow Jones life insurance index is off 59% this year and 82% from its 2007 high,...

Fear of Unforeseen Chaos Keeps Feds Bailing Out AIG

(Newser) - If you want to understand the phrase “too big to fail,” look no further than AIG, the Los Angeles Times reports. With $1.1 trillion at the end of 2007, operations in 130 countries and 74 million customers, AIG is so entrenched in the global financial system that...

Dow Off 177 on Poor Earnings
 Dow Off 177 on Poor Earnings 
MARKETS
Nov 11, 2008 3:40 PM CST

Dow Off 177 on Poor Earnings

Goldman report sends life insurance down

(Newser) - Stocks declined today as poor earnings reports made investors bearish, the Wall Street Journal reports. Although news of the Fannie/Freddie plan to speed refinancing efforts for distressed homeowners checked midday losses, the Dow dropped 176.58 to close at 8,693.96. The Nasdaq dropped 35.84, settling at 1,...

Ledger Tot Sues as Insurance Balks at $10M Payout

Company says it can't rule out suicide

(Newser) - A trustee representing Heath Ledger's 3-year-old daughter is suing the actor's insurance provider, who is balking at paying out his $10 million death benefits, TMZ reports. ReliaStar Life Insurance Co. says it's withholding payment until they determine whether Ledger's accidental overdose death was a suicide, an investigation that includes quizzing...

LA's 'Black Widows' Get Life in Prison for Murders

Pair killed two homeless men for life insurance

(Newser) - Two elderly women who carried out a cold-blooded scheme to murder homeless men have been sentenced to life without parole by a Los Angeles judge. Helen Golay, 77, and 75-year-old Olga Rutterschmidt—nicknamed the "Black Widows" in the media—lured two vagrants off the street, cared for them for...

Employers Use Law to Withhold Benefits

Think you're covered? Not if your company decides you're not

(Newser) - Thomas Amschwand was dying, but made sure his wife would collect on his $426,000 life insurance policy. Yet when he died, his boss withheld the money, and his wife was powerless—because a federal law stops workers from suing employers for large sums of health, life, or retirement benefits....

Quick-Fix Cash Schemes Find More Takers

Reverse mortgages, insurance buyouts among risky moves

(Newser) - Big banks aren’t the only ones struggling to find the cash to keep going. Americans are feeling the pinch, and grabbing cash anywhere they can find it, the Wall Street Journal reports. Credit-card debts remains high, but more are turning to options that bring a quick infusion of cash...

House Could Be Dead Giveaway
 House Could Be Dead Giveaway 
Apr 6, 2008 11:20 AM CDT

House Could Be Dead Giveaway

69-year-old seller will make home's buyer beneficiary of $500K insurance policy

(Newser) - If Bob Fanning dies in the next decade, the buyer of his Wisconsin home—listed at $498,900—will get a half-million dollar payday. That’s because the 69-year-old plans to make the new owner the beneficiary of a 10-year life-insurance policy, a carrot he hopes will sweeten the deal...

Military Death Payments Trouble Families

$500,000 windfalls for next of kin can cause confusion, discord

(Newser) - The military pays $500,000 to the next of kin of every soldier killed in Iraq or Afghanistan, but the sudden injection of cash during a time of grief often throws survivors off balance. Young military spouses can struggle with money management and long-lost friends and relatives sometimes appear asking...

Man Kills Stranger, Fakes Own Death

Suspect commits suicide as cops close in; wife under scrutiny

(Newser) - A Chicago-area construction boss trying to work a life-insurance scam killed another man, used the body to fake his own death, then killed himself as police converged, the Chicago Tribune reports. Authorities are now looking at whether the killer and his wife, who had email contact after his “death,...

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