Rock by Night, Life Insurance by Day

Gene Simmons of the Band Kiss Is Fronting a New Venture for Wealthy Audiences; 'Life Equity Strategy,' Cleveland?

Gene Simmons... joined a group of financial-sector executives to launch Cool Springs Life Equity Strategy... You might buy car insurance from a gecko or a cave man, but would you consider buying life insurance from a blood-spitting hellion in leather pants?

Gene Simmons, the 60-year-old co-founder of the rock band Kiss, hopes so. If you are wealthy enough, that is.

Mr. Simmons's new group, Cool Springs Life Equity Strategy, was launched last month to tap into a lucrative demographic: entertainers, sports stars and other people with a net worth of $20 million or more who need a life-insurance policy of $10 million or greater. The firm's founders, who include David R. Carpenter, formerly of insurance powerhouse Transamerica, believe there is big opportunity to sell jumbo insurance policies to rich people...

WSJ: Rock by Night, Life Insurance by Day