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Bill Targets Insurance Predators
posted 5:56 pm Thu May 08, 2008 - Oklahoma City
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The Oklahoma Senate has given final approval to a bill aimed at protecting citizens from predatory investors who profit from life insurance policies.
The bill, by Senatory Sean Burrage, was approved today and now goes to Governor Brad Henry (web|news) .
Burrage said there is a growing national trend where unsavory investors provide a financial incentive for a senior citizen to purchase a life insurance policy and agree to sign over ownership of the benefits after a set amount of time has expired.
The practice is called "stranger-originated life insurance" and is designed to provide investors with profits from the deaths of senior citizens.
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