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NeverFail Legal and Ethical Issues

NeverFail Legal and Ethical Issues - complying with the law...

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Legal Ethical - Ohio doesn’t have a law against it - Concept of making money from people dying - Sign NeverFail as beneficiary - Sales reps are making 10% of face amount not 10% of discounted present value - Ohio Structured Settlement Protection Act - Two divisions have different goals and only want to make money - Manipulative caregiver can sign for the insured - Doctors are getting $1,000 just for their signature - Causing people to fraudulently sign the insurance policies - NeverFail is only paying 50 to 60 cents on the dollar for these policies (no competition?) - Divisions use two different law firms - Undue influence on people over 50 (also includes caregivers) - Both divisions believe that they are
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Unformatted text preview: complying with the law – need to look into the laws-Divisions are competing with each other (one is selling viatical settlements the other is life insurance)-Need to be careful to prevent fraud and misrepresentation lawsuits-Doctors could become unethical just to make extra money-Are sales reps meeting the Ohio Department of Insurance guidelines?-Director is making 1.15% on increase of purchases so they could create pressure on the Division-How to sell viatical settlement while complying with laws regulating these types of sales-Insurable interest: buying people’s policies for cash, instigating murder G-BioSport North Legal/Ethical Issues...
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