Is it immoral to buy a life insurance

[sorefeet]

policy on someone for an investment. I know corporations do it. I am pretty sure you have to have the other persons permission, but if you pay for it monthly is it immoral. Example, I moved here 30 year ago and there was a guy who drank hard, smoked like a chimney, divorced, depressed, eat like shit, just plain looked like he wasn't going to live long. I told him, if you don't straighten up I'm going to buy a life insurance policy on you and we all laughed. But if I would have he made it for about 20 years I would have paid on the policy and today I would have more money than I do now. Lung cancer finally did get him. So is that immoral or an investment.

[orpupilofnature57]

1. It's immoral to profit from insurance at all, it should make you whole .

Not a lottery winner, like the hedgers that consume more resources than all the welfare recipients on the planet .

[sorefeet]

2. Lots of people profit

from car crashes.

[orpupilofnature57]

5. But other people don't profit " Directly " or bet on it happening .

[no_hypocrisy]

3. I know a man who secretly took a life policy on his wife,

naming him as sole beneficiary.

Scum.

[unblock]

4. at a minimum, it could be evidence against you

showing you had an incentive to encourage someone else's death. depending on various things that might happen, that could land you in serious legal trouble.

at a bare minimum, i imagine there at least one of two requirements for buying life insurance on someone else:
(a) consent from that person; or
(b) a pre-existing financial risk associated with the death of that person.

so for example i don't need consent from my child if i want to get life insurance for him because i would have funeral expenses in the event of a tragedy and i have a vested interest in his financial security.

i think (b) is the excuse companies like wal-mart use to get insurance on their employees, because they have the cost of replacing and retraining, e.g. that said, they might have consent somewhere in the tiny print of employee paperwork....


in any event, yes, i believe it to be immoral to place a bet on someone's demise when it's just idle speculation.

[sorefeet]

7. Ya might have some explaining

if the radio fell in the bathtub I guess.

[NewDeal_Dem]

10. places like walmart work their employees to death. i know because it nearly happened to me.

[flamin lib]

6. Depends.

For small companies and partnerships it can preserve the company if a principal dies.

Take a two person partnership. Partner A dies and that share of the company falls to the next of kin. Suppose the next of kin isn't interested in the business and wants to cash out? Where does that money come from? If both partners have an insurance policy worth 1/2 of the business and the beneficiary is the partnership or the partnership itself there is ready cash to buy out the heir and the company goes on, nobody is displaced. If the heir is interested in the company the policy provides a cushion until the new partner is up to speed and becomes productive.

To employ an employee that the business can survive without solely to profit from it is immoral.

[sabrina 1]

8. Betting on the death of a human being couldn't be more immoral imo. But then I seem to be out

of step with this culture we live in.

Watching stories of motives for murder, Life Ins. appears to be one of the most popular motives.

As for the Dead Peasant Life Ins policies, taken out by Corporations on employees, that is yet another example of what a deteriorating society this.

I can't imagine even wanting that blood money frankly.

[Warpy]

9. Those "dead peasant" policies are meant to cover the cost of hiring and training

a new peasant to do the job of the dead peasant. That was the reasoning behind the first ones and they only covered the estimated cost of doing so. Then they got greedy and people started to notice that they had another reason (besides callousness) to kill off their employees.

As for taking out insurance policies on the dissolute in order to cash in when the inevitable happens, the tale of the Durable Michael Malloy might be of interest to you: http://io9.com/5918834/the-legend-of-mike-the-durable-malloy-historys-most-stubborn-murder-victim

[A HERETIC I AM]

11. One has to have an "Insurable Interest" in order to do such a thing.

In other words, you can't in the context you describe.

Wikipedia explains it pretty well;

http://en.m.wikipedia.org/wiki/Insurable_interest

You have an insurable interest in your spouse, your home, your property etc., but NOT on your neighbor, as an example.