Life Insurance Policy Analysis Essay

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Over the past 30 years, life insurance policies have become a multimillion-dollar industry. “Everything Dies. That is the law of life-the bitter unchangeable law” according to David Clement-Davies, yet there are many ways to cash in on the benefits of life insurance. Here are just a few examples: janitor’s insurance policies, death pools, viatical insurance, terrorism futures, and death bonds. These are just creepy practices wagering on others’ lives. Then again, why not make money when a celebrity dies; it is not hurting anyone, especially if they aren't even aware of the pool. Betting on human lives of or companies cashing in on employees’ lives is immoral and repulsive because employers have already benefited from their laborers efforts …show more content…
What effects do the death pools have on the market of life insurance? A contributory cause Death Pools whele fun and entertaining for some are just as disturbing as viaticals in morbidity. As distasteful as this is, so many have turned a tragic event into profit. As we have discovered in the book, “What Money Can’t Buy” you would need to have a good understanding of insurance markets in the interest of getting the best bang for your buck. In order to gather intelligence, the government created the Policy Analysis Market, most commonly known as the Terrorism Futures Market. Traders would predict where the next terrorist attack was taking place, furthermore, the players would have to back their prediction with their own money, thus it was presumed they had the best information.
The book depicts how viatical insurance emerged during the AIDS epidemic, where the insured could sell his/her policy to their policy for short term medical bills. Then the investor who bought the policy for a fraction of its worth will take over paying premiums until the original policyholders died (Sandel 136). Death bonds, which are backed by Wall Street investment banks, would generate revenues from the insurance payouts that came when the original policyholder died. The intermediate cause of a death market offered hope from a new product to offset the collapse of the mortgage securities
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