Larry King Sues Insurance Brokerage Over Sale Of $15 Million Worth Of Policies

Mediabistro's TV Newser   |  Chris Ariens   |   November 3, 2007 06:04 PM

Read More: Cnn, Larry King, Lawsuits, The Smoking Gun, Breaking Media News
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The Smoking Gun has the documents related to a lawsuit filed by CNN's Larry King. King claims that an "unscrupulous insurance brokerage swindled him in connection with his sale of $15 million in personal life insurance policies." The suit charges that an "insurance company convinced him to engage in a series of 'highly complex life insurance transactions' that resulted in the purchase and flipping of insurance policies with an aggregate value of $15 million."

The Smoking Gun reports two policies are now held by a third party that "specializes in the purchase of life insurance policies owned by the aged and ill, with the firm aiming to profit when the elderly seller dies (which is likely what they had in mind when purchasing the $5 million King policy)."

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- Ginzaman See Profile I'm a Fan of Ginzaman

But, is it bragging if he says he doesn't need Viagra?

    Favorite    Flag as abusive Posted 01:53 PM on 11/05/2007
- drumz See Profile I'm a Fan of drumz

The Insurance Industry is for equal opportunity; they will screw the rich or the poor.

    Favorite    Flag as abusive Posted 07:58 PM on 11/04/2007
- truthyguy See Profile I'm a Fan of truthyguy

Why does Larry King have shoulder pads in his shirts?

    Favorite    Flag as abusive Posted 07:39 PM on 11/04/2007
- robertsandimas See Profile I'm a Fan of robertsandimas

I don't understand how this man ever got to where he is. He is a lousy, really LOUSY, interviewer. And now he's a multimillionaire from doing this? Shame on us.

    Favorite    Flag as abusive Posted 09:49 PM on 11/03/2007
- godlessclif See Profile I'm a Fan of godlessclif

The question is can Larry show up in court and prove he is alive. Walmart does this with their employees all the time, insure them and then work them to death.

This is the first time I heard of CNN doing it.

    Favorite    Flag as abusive Posted 08:32 PM on 11/03/2007
- realitytrumpsbull See Profile I'm a Fan of realitytrumpsbull

Life Insurance is a racket. When you die, the
only people that care how much money you have
are your relatives, and the IRS. Even 15
million dollars can't bring you back from
The Great Beyond. When the
undertaker habeus the corpus, they can
dig a hole and put you in it and fillitinus,
and put a rock on top. Show's over. You're
history. Life insurance is a financial
instrument to enrich your survivors. That's it.

    Favorite    Flag as abusive Posted 07:06 PM on 11/03/2007
- ErnestineBass See Profile I'm a Fan of ErnestineBass

Boy, the guy that owns that policy may have one LONG wait.

If Larry King died tomorrow, CNN would have him stuffed, prop him up behind that desk, and hire one of the "Muppets" puppeteers to make his mouth move for the next two years...

And nobody would know the difference.

    Favorite    Flag as abusive Posted 06:27 PM on 11/03/2007
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