Missouri Panel Eye Abusive Life Insurance Transactions

A Missouri legislative panel is examining an abusive type of life insurance transaction that speculators use to profit from the deaths of senior citizens.

The Senate Interim Committee on Consumer and Financial Protection is conducting a Sept. 11, 2007, hearing on what is known as “stranger-originated life insurance (STOLI),” a consumer abuse that is increasingly drawing national attention. State insurance departments around the country and the National Association of Insurance Commissioners (NAIC) are working on ways to deter STOLI, an effort strongly supported by the life insurance industry.

Missouri Panel Eye Abusive Life Insurance Transactions
Source: Insurance News Net
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