Scott Page, pictured in the 1990s.Scott Pagehide caption<\/p>\n
Listeners of ourAugust 14 Planet Moneyepisode may recognize some of today’s newsletter. We got such a response, and so many questions, we wanted to go a little deeper with this follow up.<\/p>\n
Frank Sierawski didn’t set out to discover a multibillion-dollar market for speculating on when people with life insurance policies will die. He stumbled on it by accident, after getting the worst news of his life.<\/p>\n
Over a decade ago, Sierawski got diagnosed with a rare form of Stage IV lung cancer.<\/p>\n
He has a wife and three kids, and he’s thinking about all the time together he’s going to miss out on. So he sets what he thought then was an ambitious goal: live seven years.<\/p>\n
“That’s when I was 35,” Sierawski said. “The five-year survival rate is 20%. That seems like I’d be beating the odds. That’d be a big win. I’ll take that.”<\/p>\n
He was obviously worried about how his death would impact his family emotionally, but he was less worried about the financial impact. Because, before his diagnosis, he’d taken out two life insurance policies.<\/p>\n
Back then, he understood the basic value proposition of life insurance like many of us do: you pay an annual premium to your insurance company, and if you die while your policy is in force, the insurer pays a big chunk of change to whomever you tell it to. In this case, the money would go to his family.<\/p>\n
Sierawski is 47 now. Luckily, his life insurance never had to pay out. He got on a new drug that put his cancer into remission. But he kept paying into those two life insurance policies.<\/p>\n
Then, just over a year ago, Sierawski was scrolling through a Facebook group for cancer survivors when he stumbled across a post that would change his whole idea of what life insurance even is. And what it can do.<\/p>\n
The post was about a deal where you don’t have to actually die to get some of your life insurance money. It’s called a life settlement.<\/p>\n
Quelle: NPR News<\/em><\/p>","protected":false},"excerpt":{"rendered":" Scott Page, pictured in the 1990s.Scott Pagehide caption Listeners of ourAugust 14 Planet Moneyepisode may recognize some of today’s newsletter. We got such a response, and so many questions, we wanted to go a little deeper with this follow up. Frank Sierawski didn’t set out to discover a multibillion-dollar market for speculating on when people […]<\/p>","protected":false},"author":4,"featured_media":1260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/posts\/1261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/comments?post=1261"}],"version-history":[{"count":0,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/posts\/1261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/media\/1260"}],"wp:attachment":[{"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/media?parent=1261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/categories?post=1261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/god-bless-usa.com\/de\/wp-json\/wp\/v2\/tags?post=1261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}