When is four life policies too many?

by Will Ashworth08 Jul 2015
An Irish man who took out four policies worth $4.3 million is now being investigated by Irish police for fraud after his wife drowned while swimming at the Royal Rivea Resort in Cyberabad, India in May 2014.

The father of two children aged three and five took out four life insurance policies from four different companies over three months in 2006. He’s now suing two of them, Friends First and Irish Life, in order to force the insurance carriers to settle claims which are now more than 13 months old.

The companies, for their part, are refusing to payout given the current police investigation into the husband’s actions.

According to a sworn testimony of a senior claims manager with Irish Life, the claims investigator sent by the company to investigate the wife’s drowning found that the investigation by local police was cursory at best and that the local constabulary suggested a request be made through the Irish Embassy to reopen the investigation into the facts of this case.

The husband’s lawyers attempted to fast-track the case through the Commercial Court by consolidating his claims under one case rather than proceeding through the High Court. Unfortunately for the husband the judge presiding over the request denied it based on the fact this wasn’t a business matter and that the police investigation both in Ireland and India should first be concluded before moving ahead.

The moral of the story?

Taking out four life insurance policies with four different companies probably isn’t a good idea even if you tell the truth and reveal you’ve taken out multiple policies.
It’s a tad suspicious.