Business, Legal & Accounting Glossary
A fraudulent activity whereby a life insurance policy is purchased by a party with knowledge of a pre-existing condition. The agent selling the policy typically has knowledge of the condition. The goal is to sell the policy shortly thereafter to receive a portion of the face value, to avoid detection of the falsehood upon death.
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This glossary post was last updated: 20th November, 2021 | 0 Views.