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| Tekijä: | Nurnberg, H. Lackey, D.P. |
| Otsikko: | The ethics of life insurance settlements: Investing in the lives of unrelated individuals |
| Lehti: | Journal of Business Ethics
2010 : NOV I, VOL. 96:4, p. 513-534 |
| Asiasana: | investments life insurance insurance ethics law USA |
| Kieli: | eng |
| Tiivistelmä: | Life insurance policies owned by investor-beneficiaries on the lives of unrelated individuals are called life insurance settlements (hereafter as: l-i-s). Transactions involving l-i-s. seem to become a major source of profits for investment banks, comparable in dollar amount to subprime mortgages. With l-i-s., the insured individuals suffer no immediate harm, and the sale of a policy owned by an individual is allowed under current (U.S.) law. Nevertheless, moral questions can be set about the social values expressed by these practices etc. Herein, l-i-s. are dealt with from utilitarian and libertarian perspectives. The effects of l-i-s. are considered on social values and on individual character. All in all, legislative changes in insurance and tax laws are favoured to discourage life settlements. It is argued that certain forms of l-i-s. should be immediately banned. |
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