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Life insurance question
Posted on 9/26/14 at 9:57 pm
Posted on 9/26/14 at 9:57 pm
So I just watched Cast Away for the first time in YEARS.
It got me wondering, I'm sure that he had some type of life insurance from FedEx... I'm sure he was presumed dead and someone collected on said life insurance...
What happens when he turns up alive ~4+ years later? Is that money to be recouped?
...and no, I'm not high.
It got me wondering, I'm sure that he had some type of life insurance from FedEx... I'm sure he was presumed dead and someone collected on said life insurance...
What happens when he turns up alive ~4+ years later? Is that money to be recouped?
...and no, I'm not high.
Posted on 9/26/14 at 10:01 pm to Pectus
I'm at that part right now..
"Wilson! I'm sorry!"
"Wilson! I'm sorry!"
Posted on 9/26/14 at 10:02 pm to yankeeundercover
You do realize that it was just a movie and not real life..
Posted on 9/26/14 at 10:08 pm to Traffic Circle
It's still a very good question
Posted on 9/26/14 at 10:09 pm to Traffic Circle
Are you fricking kidding me with this shite?
I know it's a fricking movie, arse clown... But the question isn't regarding the plausibility or validity of the plot...
Hence the thread title...
I know it's a fricking movie, arse clown... But the question isn't regarding the plausibility or validity of the plot...
Hence the thread title...
This post was edited on 9/26/14 at 10:09 pm
Posted on 9/26/14 at 10:13 pm to yankeeundercover
I think it's 7 years before life insurance will pay if the court declares legally dead.
I guess they may sue for fraud if they can prove it buts it's hard to imagine an insurance company overlooking an "oops, thought you were dead. Old chap!"
I guess they may sue for fraud if they can prove it buts it's hard to imagine an insurance company overlooking an "oops, thought you were dead. Old chap!"
This post was edited on 9/26/14 at 10:15 pm
Posted on 9/26/14 at 10:14 pm to yankeeundercover
quote:
I know it's a fricking movie, arse clown... But the question isn't regarding the plausibility or validity of the plot...
Ok then. Who is the policy with and how much is it for? It is group or personal, whole life or term?
Posted on 9/26/14 at 10:23 pm to Traffic Circle
Right, because we're talking real life... Not in hypotheticals...
In that case, Mutual of Omaha, term life, personal, $500k... Oh, and accidental death is covered.
In that case, Mutual of Omaha, term life, personal, $500k... Oh, and accidental death is covered.
Posted on 9/26/14 at 10:28 pm to yankeeundercover
No clue about his life insurance BUT Fed Ex can file a claim after 72 hours of non service of any plane (for whatever reason) and probably get paid the full replacement value of the plane within 7 days.
Posted on 9/26/14 at 10:36 pm to yankeeundercover
quote:
Right, because we're talking real life... Not in hypotheticals... In that case, Mutual of Omaha, term life, personal, $500k... Oh, and accidental death is covered.
Let's see, no body, some history of potential flight. Travel over tropical islands fostering potential luxurious lifestyle.
Premium of $52 per month of 3 years, 8 months, or $2,288. Don't know about Mutual of Omaha, but our insurance company will offer the beneficiary a return of the premiums for $2,288 in that we believe that Mr. island hopper man faked his death.
And, we would keep it tangled up in court for 4-6 years, until he surfaces. And, ultimately, we would win, and not even have to pay the $2,288 offered.
Have a nice day.
Posted on 9/26/14 at 10:38 pm to Traffic Circle
tPOSes
What if the disappearance of the plane is high profile?
What if the disappearance of the plane is high profile?
This post was edited on 9/26/14 at 10:39 pm
Posted on 9/26/14 at 10:41 pm to southernelite
quote:
What if the disappearance of the plain is high profile?
We take issue that disappearance =\= death. It could have all been faked or held hostage somewhere. Or, like in this case, he survived. No death, no pay.
You have heard the term "justice delayed is justice denied!"
Posted on 9/26/14 at 10:50 pm to Traffic Circle
lulz. you sell insurance...
Posted on 9/26/14 at 11:27 pm to Traffic Circle
quote:How long do they have to file to obtain payment on a *typical* payout?
Or, like in this case, he survived. No death, no pay.
Posted on 9/26/14 at 11:31 pm to yankeeundercover
Someone gets paid under a presumption of death. After the money is paid.. "too bad, so sad" unless the insurer can prove fraud.
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