Mon, Oct 06 2008
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Published May 10, 2008 07:05 pm - Burrage protects seniors
Senator Sean Burrage’s bill, Senate Bill 1980, giving the state greater regulatory power over allowing strangers to take out life insurance policies on individuals without their knowledge, has passed the House and Senate and is now on the way to the Governor. The measure would ban the practice some companies have engaged in of taking out life insurance policies on employees without informing the employee. As a result such unscrupulous companies manage to profit from an employee’s death. In other instances, praetorian salesmen have taken advantage of seniors with similar schemes. It goes without saying that it’s not only an invasion of privacy, but also simply unethical. These types of policies, known as stranger-originated life insurance, have been growing and should be banned. Burrage’s bill protects senior citizens from the unscrupulous hucksters and employees from employees who ought to be concentrating on profits rather than reaping a windfall from the death of an employee. 
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