Here's a long, but good, article from the August 10 New York Times, titled "Are You Worth More Dead Than Alive?" Some might indeed think it's a bit of an uncomfortable topic -- basically, people and companies betting on when someone will die. But the world of viatical or life settlements is a growing reality, and of course it's related to actuarial science in both its reliance on life expectancy calculations, and its financial implications.
Essentially, someone in need of cash (perhaps for medical bills because of a terminal illness, or perhaps even for a healthy person's desire to, say, travel in her/his retirement years) sells their life insurance policy to the highest bidder. The purchaser takes over the premium payments and becomes the beneficiary upon the death of the original insured.
Interesting subject from a number of perspectives: cultural, financial, moral, regulatory,...
- Rick
