Money FB 4/22 - Barb borrowed from life insurance, eBay updates

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RoboticRichardSimmons said:
Term Life Insurance isn't that expensive. It's probably some pyramid scheme Indian owned and operated company based out of South Dakota that scammed Chris.
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Straight term insurance has no cash value. Whole of life insurance (and its variants) has an investment component which increases as time passes. They could well be cheap family policies which were offered through either Barb's or Bob's workplace 30 years ago - so neither high value nor high premium (group insurance was a huge thing in the 1980s).
 
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bigshot said:
Wouldn't Cole be the next of kin for Chris's insurance?
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Insurance generally moves outside the estate. The policy-holder usually names the beneficiary. Different jurisdictions have different laws about who can insure the life of another, but true crime shows lead me to believe that you can take out a policy on someone else's life in the US without demonstrating an insurable interest.

Chris is probably not the policy-holder of any insurance on his life.
 
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bigshot said:
Wouldn't Cole be the next of kin for Chris's insurance?
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Cole hasn't spoken to Chris or Barb in over 10 years. The last known contact between Barb and Cole was at a Christmas Party in 2005 and then she hung up the phone on him for the last time in 2006 when he called to ask about Ran Coleman Yeatts. The last known contact between Chris and Cole was the Cole Smithey Emails in 2007. After Chris's online reputation skyrocketed and weens began posting JULAYYY on his film reviews, he cut off all contact whatsoever and pretends he doesn't have a mother or half brother. Barb is broke and has nothing that Cole would want. Cole is living it up in Manhatten and his wife, Katherine Kyle owns a bar. Plus, they live in a very nice apartment. He has everything he wants, he doesn't care about 14 BLC. He mentioned Barb 2 months ago in a podcast saying " I would never let my girlfriend near my mom"
 
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Manly-Chicken said:
Doesn't borrowing usually imply you'll pay it back?
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It does and if she did it as a loan they will apply interest if she doesn't, which will further reduce the value of the policy at her death. There are reasons why people might take a loan they don't intend to pay back over a straight withdrawal against the policy (which may or may not be an option with her particular policy) but they don't really matter when we're talking about the Chandlers.
 
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Triggered Fivehead said:
Nope, it's probably Barb.

She's still hoping to collect.
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Barb knows flat out that Chris isn't going to need any life insurance, let alone pass anything onto anyone after he goes.

Here and now, it's 100% Barb hedonism. She is aware what her life ended up as, and the Bob train derailed, but she'll ride the Chris trolley to her hoard in the sky.
 
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