The Life Insurance Policies on Dr. Sievers

dmac55 · Dec 1, 2015

breakdown of the life insurance

http://www.news-press.com/story/news/2015/12/01/7-things-know-sievers-murder/76554968/\

7 things to know:The Sievers murder

Mark Sievers told investigators he and his wife had $2.5 million life insurance policies. Authorities, however, found five policies for her: $300,000 from State Farm; $2.5 million and $500,000 from Ohio National Life; $1 million from Prudential Life; $133,342.84 from Jackson National Life. The arrest affidavit lists Hartford Business General Liability but doesn’t list an amount.

OC Sunshine · Dec 1, 2015

Yes, can someone estimate what it would cost monthly for all of the life insurance policies.

irishchook · Dec 1, 2015

OC Sunshine said:
Yes, can someone estimate what it would cost monthly for all of the life insurance policies.

I think it depends on the age/health of the insured.

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irishchook · Dec 1, 2015

From what we've read, she was a viral 46 yr. girl who was healthy, active, etc; so premium would be low.

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Momoffourboys · Dec 1, 2015

OC Sunshine said:
Yes, can someone estimate what it would cost monthly for all of the life insurance policies.

irishchook said:
I think it depends on the age/health of the insured.

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It does. I believe it als depends on the state you live in. Just to give you an idea, I handle my BIL's estate and pay his insurance. He is a single, healthy male. 50 yrs old. Lives in NY. I pay approx. $300 pr month per $500,000 policy.

LvsAMystry · Dec 1, 2015

OC Sunshine said:
Yes, can someone estimate what it would cost monthly for all of the life insurance policies.

Honestly, not much. I'd assume they're term policies and given good health, it's probably at most $100 to $200 a month

concernedmother · Dec 2, 2015

I figured there was a life insurance policy. My only surprise so far is that there was so many policies. IF they are all make to MS which I assume they are, what happens to the money if he is arrested and convicted? Will the insurance have to pay out to TS next of kin?

creepingskills · Dec 2, 2015

concernedmother said:
I figured there was a life insurance policy. My only surprise so far is that there was so many policies. IF they are all make to MS which I assume they are, what happens to the money if he is arrested and convicted? Will the insurance have to pay out to his next of kin?

I think we will come to find out that MS fraudulently obtained at least one of those policies.

Frigga · Dec 2, 2015

Oh I will bet that all but 1 were fraudulently gotten Insurance policies. Theresa was young and healthy- I think more than 1 policy in and of itself would have been a red flag for her.

AZlawyer · Dec 2, 2015

concernedmother said:
I figured there was a life insurance policy. My only surprise so far is that there was so many policies. IF they are all make to MS which I assume they are, what happens to the money if he is arrested and convicted? Will the insurance have to pay out to TS next of kin?

There is likely a contingent beneficiary listed--e.g., another relative or a trust for the kids. If not, the $ would go to her estate and ultimately to the kids.

SuzDuJour · Dec 2, 2015

$5 million in life insurance...and the first thing he does is set up a fund me page. Geeeez.

cluciano63 · Dec 2, 2015

Doesn't seem right that an insurance company should have to pay out in a murder, somehow. She should have lived another forty or so years. But jmo.

TTF14 · Dec 2, 2015

SuzDuJour said:
$5 million in life insurance...and the first thing he does is set up a fund me page. Geeeez.

The stupidity is astounding with this one

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ALansby · Dec 2, 2015

Frigga said:
Oh I will bet that all but 1 were fraudulently gotten Insurance policies. Theresa was young and healthy- I think more than 1 policy in and of itself would have been a red flag for her.

It's not that uncommon to have multiple life insurance policies (at least that's what my spouse assures me :thinking

. I have three that I know of, and he has the same. The higher the standard of living, often correlates with more insurance, e.g. more income to replace. Neither one of us have anything approaching the multiple millions present in this case, but we both have enough to have eyebrows raised at the other if one of us, God forbid, died in suspicious circumstances.

Night-owl · Dec 2, 2015

cluciano63 said:
Doesn't seem right that an insurance company should have to pay out in a murder, somehow. She should have lived another forty or so years. But jmo.

She should have.

Insurance has to pay the death benefit. Can you imagine the problems if they just decide when they will and won't pay? If I fall down the steps and break my neck, they can't decide, well, I was always a clutz, I should have held on tighter to that hand rail. No check for your beneficiaries, Ms. Can't-walk-across-the-room-without-falling-over.

You can't collect on a policy where you killed someone, of course. And if he falsified anything in the applications, that could lead to a policy being voided. But why punish the kids because Dad is a killer?

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Night-owl · Dec 2, 2015

Frigga said:
Oh I will bet that all but 1 were fraudulently gotten Insurance policies. Theresa was young and healthy- I think more than 1 policy in and of itself would have been a red flag for her.

The number of policies is concerning. The total amount, to me, does not seem excessive for the owner of a business, which I believe she was. Many times, banks, investors, partners require a big old policy to protect their interests.

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CoolJ · Dec 2, 2015

If MS ends up getting convicted, is it possible the girls will receive the insurance money? Anyone know?

Gemini 11 · Dec 2, 2015

So, let me guess...The narcissist, MS, didn't have any life insurance policies on himself (in case he were to precede her death) to make sure his wife and children were taken care of.

AZlawyer · Dec 2, 2015

CoolJ said:
If MS ends up getting convicted, is it possible the girls will receive the insurance money? Anyone know?

Yes, either as contingent beneficiaries named on the policy or as beneficiaries of TS's estate.

<modsnip>

irishchook · Dec 2, 2015

Gemini 11 said:
So, let me guess...The narcissist, MS, didn't have any life insurance policies on himself (in case he were to precede her death) to make sure his wife and children were taken care of.

Very good point.

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The Life Insurance Policies on Dr. Sievers

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