The Life Insurance Scheme

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ed
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The Life Insurance Scheme

Post by ed »

Here's the idea.

You form a company ... "FuturePerfect LLC"

And what you do is make it a charity, a 401c thing.

You then advertise in AARP and other fogey outlets with something like this

BE IMMORTAL
Let your demise make for a better life for others!!!!

The idea is that these fogies (screened for age and sickness) sign off on term life insurance whose payout goes to one or more of a selected number of charities. FuturePerfect LLC pays the premiums.

I take a 15% administrative fee.

I need a few partners to fund it.

It is consistent with my Injun Spirit Animal Ethos: ie. Slothlike.

I used to come up with swell ideas like this and share with my company lawyer. He would often respond "wear stripes" :cry:
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Abdul Alhazred
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Re: The Life Insurance Scheme

Post by Abdul Alhazred »

Hmm.

I'm pretty sure this is being done, though not in a big way.
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Grammatron
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Re: The Life Insurance Scheme

Post by Grammatron »

Any scam like that needs to have a religious component (cover) to give government pause in going after you.
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Re: The Life Insurance Scheme

Post by ed »

When you go to your reward, reward others
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Re: The Life Insurance Scheme

Post by ed »

I see multiple threads ... here's one
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Nyarlathotep
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Re: The Life Insurance Scheme

Post by Nyarlathotep »

As a licensed insurance professional (seriously I am, just not working as one because I suck at sales) I am not sure you can do it as described. Not exactly

You can name anyone you want as a beneficiary, but the charity can’t take out a life insurance policy on you because they don’t have an insurable interest. So you couldn’t do it directly, at best you could offer services to help someone leave their insurance payout to the charity
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Re: The Life Insurance Scheme

Post by ed »

Can't leave members of the tribe out
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Re: The Life Insurance Scheme

Post by ed »

Nyarlathotep wrote: Fri Jan 10, 2020 9:22 pm As a licensed insurance professional (seriously I am, just not working as one because I suck at sales) I am not sure you can do it as described. Not exactly

You can name anyone you want as a beneficiary, but the charity can’t take out a life insurance policy on you because they don’t have an insurable interest. So you couldn’t do it directly, at best you could offer services to help someone leave their insurance payout to the charity
Recruitment is a key part of it. "Part of you CAN live forever"
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And
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We're cookin' now.
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Re: The Life Insurance Scheme

Post by ed »

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Re: The Life Insurance Scheme

Post by ed »

download (15.jpg
Too soon?
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Abdul Alhazred
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Re: The Life Insurance Scheme

Post by Abdul Alhazred »

Nyarlathotep wrote: Fri Jan 10, 2020 9:22 pm As a licensed insurance professional (seriously I am, just not working as one because I suck at sales) I am not sure you can do it as described. Not exactly

You can name anyone you want as a beneficiary, but the charity can’t take out a life insurance policy on you because they don’t have an insurable interest. So you couldn’t do it directly, at best you could offer services to help someone leave their insurance payout to the charity
I remember now.

It's a religious misuse of this type of arrangement ==> https://en.wikipedia.org/wiki/Benefit_society
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Witness
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Re: The Life Insurance Scheme

Post by Witness »

You can arrange for the WWF to inherit your assets. (Within legal bounds, of course.) They advertise for that from time to time.

And donate your corpse to the biosphere. :twisted:
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Re: The Life Insurance Scheme

Post by ed »

NRA does too. Thing is that I make zero, zilch, nada, 0 from those scams hence MY scam.
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Re: The Life Insurance Scheme

Post by ed »

We need a staff doctor to evaluate the participants. Unlike most such evaluations we want to identify those with the least likelihood of survival.

We will incent our Doc. Like an over under thing.

This has legs. Maybe more functional legs than our participants.
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Witness
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Re: The Life Insurance Scheme

Post by Witness »

Visit lake ed. Leave your wallet here and now go pet the gator/python/swamp ape/trilobite.

How are your crawdads, BTW?
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Abdul Alhazred
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Re: The Life Insurance Scheme

Post by Abdul Alhazred »

ed wrote: Fri Jan 10, 2020 10:02 pm NRA does too. Thing is that I make zero, zilch, nada, 0 from those scams hence MY scam.
The trouble with insurance scams is that insurance is so heavily regulated.

Why not just start a religion?

If you don't like dealing in person with annoying enthusiasts, it can be a mail order religion. :mrgreen:
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People who believe God or History are on their side provide the chaos.
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Re: The Life Insurance Scheme

Post by ed »

We are on a roll here, don't divert my attention.
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Re: The Life Insurance Scheme

Post by ed »

How are you feeling, BTW?
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Abdul Alhazred
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Re: The Life Insurance Scheme

Post by Abdul Alhazred »

ed wrote: Fri Jan 10, 2020 10:12 pm How are you feeling, BTW?
Just fine. Why?
Image "If I turn in a sicko, will I get a reward?"

"Yes! A BIG REWARD!" ====> Click here to turn in a sicko
The arc of the moral universe bends towards chaos.
People who believe God or History are on their side provide the chaos.
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Re: The Life Insurance Scheme

Post by ed »

Oh, no reason....
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