Sunday, February 28, 2010

REPORTS: JACKSON'S LIFE INSURANCE PAID OUT

I THINK IT IS IMPORTANT TO BACK UP HERE:

Jackson's Life Insurance 'Pays Out $3 Million'
08 August 2009 14:12

MICHAEL JACKSON's estate has reportedly been
awarded a multi-million dollar pay-out after the late
singer's life insurance policy was settled.

John Branca and John MCClain, the temporary
administrators of Jackson's will, are said to have
cashed in the contract, winning $3 million (£2 million)
for the star's estate.

Initial reports indicated Jackson's policy was worth
up to $20 million (£13.3 million).

But according to gossip website TMZ.com, the
businessmen rushed to finalise the deal, accepting
just $3 million, over fears the life insurance firm would
refuse to pay if an autopsy report determined drugs
were the cause of death.

Michael Jackson - Jackson's Life Insurance 'Pays Out $3 Million' - Contactmusic News

STORY FROM TMZ
Jackson Honchos Score $3 Mil TMZ.com

John Branca (above) and John McClain quietly
cashed in the policy -- reports it was worth upwards
of $20 million are simply not true.

It was a $3 million payout. And here's why it was
a swift move --

the coroner hasn't even released the autopsy report yet.

Somehow Branca and McClain convinced the insurance
company to ante up with lightening speed

-- and the estate is $3 million richer for it.
http://www.tmz.com/2009/08/08/jackson-honchos-score-3-mil/#ixzz0gsHnUkBN

9 comments:

  1. I remember the story of the aide who didnt keep up insurance payments and the family was to sue that person...lol ;o)

    I think they just cashed out what he had paid in... otherwise it would have been fraud.

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  4. Well, I think it's a wise move to accept the amount. It's good that he is insured and has some amount to leave for his love ones. Having a life insurance is a great help.

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  5. Yes its really good that he already have made his life insurance policy. His family members have not to worry about financial expenses at all. Life insurance really helps a lot and everyone should make out this policy to protect the lives of their loved ones.

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  6. i thought mj's life insurance had never been cashed in????

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  7. At anytime, you can take out what you PUT IN.

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  8. The problem is their are 2 many Jackson Nut case fans who think they have a lead due to sucking up to fam members,, Like Pearl Jr does... She claims the Policy has nevern cashed in... I,m with Twiggy on this,, Michael,s estate reps are Rats.... Mann,, Branca,, Mclain,, And Weitzman... There is also rats at sony who most likely corosponded quiet promptly to make a buissness arrangement with these guys to split the cash flow... Hell I,m from the streets,, I can see what they did!!!!! Bunch of FU*%ers.

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