You don’t get life insurance pay outs from suicide. So....not sure if this passes my smell test.
You did not read the story.
I am trying to find another story that says that the life insurance company did not pay, which they should not.
Yes you do .. the only problem is .. if you die accidentally, you get double. Okay !!
No smell can be found.
Yup, this was a PR stunt. Trump, back when he was relatively unknown outside New York City, decided to create a situation where he would negotiate with the banks and raise funds to pay off the mortgage of a little old lady he never met so he could get a photo op with her (in the article) to use decades later when he ran for President. My gosh, this guy thinks ahead!
Another article about the same story. Both have a photo of the widow and Trump at the mortgage burning ceremony. The article:
http://politics.blog.ajc.com/2015/12/26/that-time-when-donald-trump-saved-a-georgia-farm/
This is a story from the 8/2/87 New York Times:
Shortly before the Hills' 1,300-acre farm in Waynesboro, Ga., was to be auctioned in February 1986, Mrs. Hill's 67-year-old husband, Lenard D. 3d, told her to settle their debts by collecting his life insurance. Then he shot himself fatally to stop the sale.
The insurance netted $175,000; the debts exceeded $300,000. Parts of the farm were sold, but even that wasn't enough. Last Sept. 2, the remaining 715 acres were up for auction again.
This time, Donald J. Trump, the New York real-estate developer, halted the sale. He phoned the auction block and assured the creditors that he would help Mrs. Hill.
''It's worked out real, real well,'' she says. ''All 715 acres were saved.''
A son is farming corn, cotton and soybeans on the acreage under Government subsidy programs. ''It's a living,'' Mrs. Hill says, noting that ''we don't have any debts anymore.''
After halting the farm's sale, Mr. Trump invited Mrs. Hill and her family to New York. ''We needed $180,000,'' she says, to pay off debts.
A public fund drive raised $101,000. Then a Dallas property owner, Thomas McKamy, donated $38,000, and Mr. Trump gave $46,000, according to a spokeswoman for Mr. Trump, Norma Foerderer. The extra $5,000 that was raised covered legal fees.
Seems quite legit to me.
Sure you can. I have a policy that will pay out if I commit suicide. I had it written in 25 years ago, and it had a two year clause. I took it out to pay in case I was killed in the Gulf War.
The life insurance was not the key thing I wanted to post. I knew of the farm payoff from numerous sources. My point was to demonstrate that the democRATs do not do this and many Republicans do this without seeking attention.
The policy will pay out if it has been in force for 2 or more years.
With some policies you do.
I too lost my husband to suicide. He had three strokes, worked all his life & i struggle every day to support my doughtier & I.The stress is overwhelming.
Actually you can. There is generally a wait time on it but there are life insurances that pay out for suicide.
You don’t get life insurance pay outs from suicide. So....not sure if this passes my smell test.
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Yes you do. Insurance paid when my husband committed suicide 10 years ago. They paid because the policy was several years old and had never been increased. If it was a newer policy or had recently been increased they wouldn’t have paid.
There usually are time limits of 60 days or so to protect the insurer from suicide.
Yes you can. Most policies have a minimum time frame they won’t payoff. I’ve seen two years up to 5.
My understanding is that if there is a long-term policy that is paid up, it will pay out even in the event of suicide. The suicide caveat only applies to the first few years.
A policy holder in their sixties probably has Universal Whole Life, not term. Such a policy has cash value and will pay out.
Most life insurance policies only have a one year period where suicide doesn't pay - to keep folks from buying the insurance and then killing themselves as a "gift" to their family.
According to my MET LIFE agent Met WILL pay off on a suicide after a certain amount of policy time. Makes no sense to me.
My life insurance pays-out for suicide after you have paid for at least two years worth of premiums and this is not a new thing for the insurance industry.
Depends on if you get caught. A farmer could probably get away with it. Dangerous places farms.