Broker Lets the Dying Cash in on Better Life. Michael J. Berens.
by Berens, Michael J; ProQuest Information and Learning Company.
Series: SIRS Enduring Issues 2005Article 77Business. Publisher: Chicago Tribune, 2004ISSN: 1522-3191;.Subject(s): Brokers | Insurance -- Life | Terminally ill | Viatical settlementsDDC classification: 050 Summary: "Recently widowed, Harrell 'Hank' Maisel, 62, had nowhere to turn. His bagel shop was on the skids. Creditors circled on mounting credit card debt. His home was in the grip of foreclosure. And just when circumstances couldn't get worse, he was diagnosed with a terminal illness. The former California aeronautical engineer might have died in bankruptcy, leaving nothing but debt to his heirs. Instead, he turned to the viatical industry so he could take advantage of the money that eventually would be paid out from his life insurance policy. Despite a troubled history and widespread calls for reform and tighter regulation, viaticals can be a way to help people like Maisel when the transactions are executed properly." (CHICAGO TRIBUNE) This article presents the Maisel family's experience with using viaticals and explains how this "case underscores why the industry should be expanded, better regulated and celebrated."| Item type | Current location | Call number | Status | Date due |
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High School - old - to delete | REF SIRS 2005 Business Article 77 (Browse shelf) | Available |
Articles Contained in SIRS Enduring Issues 2005.
Originally Published: Broker Lets the Dying Cash in on Better Life, July 21, 2004; pp. n.p..
"Recently widowed, Harrell 'Hank' Maisel, 62, had nowhere to turn. His bagel shop was on the skids. Creditors circled on mounting credit card debt. His home was in the grip of foreclosure. And just when circumstances couldn't get worse, he was diagnosed with a terminal illness. The former California aeronautical engineer might have died in bankruptcy, leaving nothing but debt to his heirs. Instead, he turned to the viatical industry so he could take advantage of the money that eventually would be paid out from his life insurance policy. Despite a troubled history and widespread calls for reform and tighter regulation, viaticals can be a way to help people like Maisel when the transactions are executed properly." (CHICAGO TRIBUNE) This article presents the Maisel family's experience with using viaticals and explains how this "case underscores why the industry should be expanded, better regulated and celebrated."
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