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“Avoid The “STOLI” Insurance Scam That Promises You Big Money For Nothing”
Welcome back!
Stranger-Owned Life Insurance (STOLI) is offered to older people. Even if you are too young to be approached about such polices, it’s a fair bet that your parents or grandparents could be targeted, if they haven’t been already. It is in everyone’s interest to understand how this insurance scam works.
“Stranger-Owned Life Insurance (“STOLI”) is a rapidly spreading virus that is infecting both individuals and charities. The end result is likely to be a lose-lose-lose situation for the public, the insureds, their families, and the insurance and estate planning communities. In fact, everyone is likely to lose–except the promoter-marketers and third-party investors they assemble to finance what is clearly an end-run around centuries old insurable interest laws.” Stranger-Owned Life Insurance
This one hits close to home because my husband and I were told about this insurance plan, and even met with someone who promotes it. It sounds like a great deal. You “buy” an insurance policy, but you don’t pay anything for it.
This is how it was explained to us.
Dr. Kalinda Rose Stevenson
