I was browsing the English version of Der Spiegel today, and guess what I found!
09/01/2009 (English Version)Investing in Death
Betting on US Life Expectancy Proves Risky
By Christoph Pauly and Anne Seith in Frankfurt
Namely, banks are offering Europeans “financial products” of bundled life insurance policies, that they have somehow obtained on American individuals without them knowing about it (because the individuals are not the ones paying the premiums), and boo hoo, they aren’t paying off, because Americans are living “too long”!
No wonder they want to sell us lower quality, even Europeanized rationed health care! It doesn’t have to be a grand conspiracy of elitists who want the planet all to themselves all. It’s simply a gd European bank product!!
This is so outrageous, I’m very angry and posting it all over Twitter & Facebook. I want total transparency when a life insurance policy is “closed”. Be SURE no one is picking up your premiums unbeknownst to you, and & placing bets. When closing a policy, insist they hand you the paperwork stamped C-L-O-S-E-D. File it with your effects..
We went through this a few years ago when it was discovered Circle-K was taking out “secret” life insurance policies on their counter clerks, rather than beefing up security. Wal-Mart too. They’re called “Dead Peasant” policies in the U.S., and many states now ban them.
But are we tracking the practice in European banks? How ARE they obtaining these death policies, er um, life insurance policies, on individual Americans? And are the socialist wannbes agitating to totally overhaul the American health care system “investing” in these “bank products” too??
How do I start a campaign. You bet I’m blogging and I’m cc’ing radio people on this too.
You mean PEOPLE ARE BETTING CERTAIN MEMBERS OF A NATIONALITY (AMERICAN) ARE NOT GOING TO LIVE MUCH LONGER???? SO, for THESE European investors, if some epidemic or … whatever… were to wipe out a city or two full of Americans, they’d make money because the insurance wouldn’t have to pay! THAT’S UNCONSCIONABLE!
Wow, Ed, I hadn’t even thought of the whole pandemic taking out cities scenario! Layer after layer after layer of intrigue. it boggles the mind! FYI, though, they would make money because the life insurance policies WOULD pay! But not to the families — they’d pay to whoever had been paying the premiums on the policies — the European bank funds, just waiting for folks to keel over and deliver the jackpots like so many slot machines. I don’t think this is a case of “What they don’t know won’t hurt them”, because they are betting people will die sooner rather than later. I agree the whole thing IS UNCOSCIONABLE.