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Legislation targets those who bet on death: Some investors pay seniors for the right to take out life policies on them. Proposed bill in California has some industry support.

Date: October 9, 2009

Author: Marc Lifsher

QUOTE: New efforts are underway in Sacramento to regulate how investors buy and sell existing life insurance policies, a practice that critics contend allows speculators to make money by wagering on when a person will die.

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Article MetaInformation:

Key People:

• Prof. Joseph M. Belth
• Paul E. Kanjorski
• Doug Head
• Governor Arnold Schwarzenegger

Key Organizations:

• John Hancock
• Life Insurance Settlement Association (LISA)
• Los Angeles Times
• Prudential Financial

Subject & Geographic Categories:

• Abstract Principles
  • Control / Access / Permission
    • Choices/Tolerance/Flexibility
    • Principles / Guidelines / Rules / Policy

• Businesses & Organizations
  • Industry-Specific Issues
    • Insurance

• Government & Politics / History
  • Government (General)
    • Government Regulation
      • Business Regulation

• Personal Finance & Career
  • Personal Finance
    • Consumer Protection/Customer Issues
      • Services Issues
        • Insurance: Life / Disability

• North America
  • United States of America/USA
    • California

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