Senior Protection Bill Goes To Henry

A bill designed to protect senior citizens from predatory investors who profit from life insurance policies is on Governor Henry's desk today.

The bill, by Senator Sean Burrage, was approved earlier in the day. Burrage said there is a growing national trend where unsavory investors provide a financial incentive for a senior citizen to purchase a life insurance policy and agree to sign over ownership of the benefits after a set amount of time has expired. The practice is called "stranger-originated life insurance" (STOLI) and is designed to provide investors with profits from the deaths of senior citizens.

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