The Life Insurance Policies on Dr. Sievers

[Lilibet]

Personally speaking, Regarding life insurance policies, my DH MD has $5M in life insurance policies. IIRC, One buys out his practice so there are no issues with his partner or me upon his death. The remainder is for me and my children to live on. And NO, I don't plan on his demise or doing anything to hasten his death.

I wasn't surprised at the amount of her life insurance as I assumed they covered the value of her practice as well as income potential. It is just so tragic that this may have served as motive for her death.

Katiecoolady's sister was murdered for this same reason 27 years ago. The 2 men responsible for her death are in prison in AZ. Her sister's new husband took out a large policy on her and brutally killed her 4 months later.

IMO

BBM

I've been thinking about Katiecoolady's sister too ever since we found out about the life insurance. They married very quickly, and it's clear in retrospect that the two brothers targeted her. She did know about the policies, which the agent issued on both of them based on information he falsified. It's such a tragic story. Katiecoolady is working on a book about it.

It seems likely that the policies issued on TS were legitimate, and I don't believe that MS married her with this plot in mind, so I'm not drawing any comparisons. But since the motive for the murder of TS seems to be the insurance, I couldn't help but think of this heartbreaking story.

Not to derail the thread into a discussion, but for anyone interested here is a link to the story.
http://www.phoenixnewtimes.com/news...and-gave-two-con-men-a-reason-to-kill-6425023

 

[AlwaysShocked]

OMG -- are you SURE it can't be terminated if the key player were to be fired? How could the investors a company have an insurable interest in executives that are no longer with the company? Otherwise, instead of firing them, they should just take out a hit.

There was a scandal a few years back about this kind of thing going on. I think the company might have been Walmart that was cashing in on the deaths of current and former employees who died. While the families of the deceased were left with nothing.

 

[DexterMorgan]

BBM

I've been thinking about Katiecoolady's sister too ever since we found out about the life insurance. They married very quickly, and it's clear in retrospect that the two brothers targeted her. She did know about the policies, which the agent issued on both of them based on information he falsified. It's such a tragic story. Katiecoolady is working on a book about it.

It seems likely that the policies issued on TS were legitimate, and I don't believe that MS married her with this plot in mind, so I'm not drawing any comparisons. But since the motive for the murder of TS seems to be the insurance, I couldn't help but think of this heartbreaking story.

Not to derail the thread into a discussion, but for anyone interested here is a link to the story.
http://www.phoenixnewtimes.com/news...and-gave-two-con-men-a-reason-to-kill-6425023

Agree. Big life insurance policies are wonderful. But since most people never read the fine print aka the bottom line or aka the catch 22; Most claims are usually voided due to circumstances that wasn't read in the fine print by the person whom started the application .

For Example. If you are a suspect; You will not be paid. Lol. Plus we will not payout beneficiary people who were never mentioned on the application.

So my point is; If mark personally got some of the policies without Teresa's knowledge. Plus if he only listed himself as a lone beneficiary of those policies.

While also being a suspect with his wife's death. Means that those insurance policies may not have to pay anyone if they are not mentioned beneficiaries of a policy that mark personally set up but for some reason didn't put them on there. Jmo.

So I truly would like to know what people did mark set as beneficiaries of all the policies that he had out on Teresa. Especially if he was thinking just in case during the time of applying for the policies.



So maybe Mark made sure that his mother will benefit if something happened where he couldn't collect.

That WAY she could still give him money. Especially since the murder and just in case he was arrested was planned already. Jmo.

So who are the beneficiaries on every policy. Just asking?

 

[SurfieTX]

Page #17, 3123: Envelope from Prudential postmarked 09/11/2007.

Page #17, 3124: Check made out to an insurance company (I can't tell what it says). It is drawn on a checking account only in Teresa's name with a different address than Jarvis (Murok Way). It is dated 11/11/2005. The memo says life insurance.

Page #17, 3125: Check made out to Prudential from same checking account as above. I can't tell the date, possibly 2005?

Page #17, 3867: Envelope from Ohio National Financial Services postmarked 08/22/2009.

 

[irishchook]

Seriously, it would be like playing the lottery! Take out life insurance on random people betting they'll die before you spend a fortune on premiums. I imagine a big old blackboard (or spreadsheet if you like) toting up all premiums, names, ins. companies...

A few years back, there were two senior ladies who took out life insurance policies on homeless men. A cottage industry for their retirement? They killed at least two of them.

I just watched a program on that on ID Channel. Funny watching them argue in the interrogation room.

Sent from my SM-N900V using Tapatalk

 

[SurfieTX]

Agree. Big life insurance policies are wonderful. But since most people never read the fine print aka the bottom line or aka the catch 22; Most claims are usually voided due to circumstances that wasn't read in the fine print by the person whom started the application .

For Example. If you are a suspect; You will not be paid. Lol. Plus we will not payout beneficiary people who were never mentioned on the application.

So my point is; If mark personally got some of the policies without Teresa's knowledge. Plus if he only listed himself as a lone beneficiary of those policies.

While also being a suspect with his wife's death. Means that those insurance policies may not have to pay anyone if they are not mentioned beneficiaries of a policy that mark personally set up but for some reason didn't put them on there. Jmo.

So I truly would like to know what people did mark set as beneficiaries of all the policies that he had out on Teresa. Especially if he was thinking just in case during the time of applying for the policies.



So maybe Mark made sure that his mother will benefit if something happened where he couldn't collect.

That WAY she could still give him money. Especially since the murder and just in case he was arrested was planned already. Jmo.

So who are the beneficiaries on every policy. Just asking?

Teresa was aware of two of them. She was making payments as early as 2005 from her personal checking account to Prudential and another one, possibly Ohio National Financial Services. I can't make out her handwriting on the check, but it does say life insurance on the memo line.

Page 17, #3214 (scroll down from there and the rest is there)

ETA: Both payments were in the mid 90.00 range (? per month?, I have no idea). I also have no idea if the amount stays the same over the years. I guess it does?

 

[jggordo]

In respect to the life insurance policies, I believe that each time a new policy was added that MS was adding a same policy on himself thus not alarming TS. When the family appeared to be in "high cotton" it would be easy for him to convince her that it was prudent to do so, especially with racking up new debts. After opening the policies he could have stopped "funding" his policies without her knowing and allowing them to lapse.

In regard to the policy with the odd dollar amount, I believe that one is an annuity policy. Those amounts change due to payments made into them and interest accrued.

JMO's

 

[AlwaysShocked]

There was an interesting letter in there somewhere which was from the police to an outfit called something like "National Association of Insurance Companies". That's not the exact name but it was something like that.

The letter was a request notice for all insurance companies to look for life insurance policies on Teresa Seivers and if they found anything to respond to a certain detective.

The form request indicated that such information was being requested to prevent fraud against the insurance companies. I would imagine compliance with the request from LE would be voluntary on the part of the insurance companies who are members of this group, as this was no specific request to any one insurance company.

Perhaps once LE gets a response they then obtain a specific warrant or subpoena for that company/policy? Any insurance company insiders here who know about these things?

(I already knew from having a homeowner's claim that insurance companies share information in a huge database. They not only knew of a prior claim I had had many years ago, they knew there had been two prior claims at my address, during a time when I did not even own the property. I think insurance companies must have been the original "Big Brothers" in our society!)

 

[DexterMorgan]

In respect to the life insurance policies, I believe that each time a new policy was added that MS was adding a same policy on himself thus not alarming TS. When the family appeared to be in "high cotton" it would be easy for him to convince her that it was prudent to do so, especially with racking up new debts. After opening the policies he could have stopped "funding" his policies without her knowing and allowing them to lapse.

In regard to the policy with the odd dollar amount, I believe that one is an annuity policy. Those amounts change due to payments made into them and interest accrued.

JMO's

Agree. I think that Teresa may have known about a policy or 2. But let's say you and your spouse sign up for a 100k policy. This means that the other spouse can probably upgrade that same policy to 1 million without the company asking for more proof.

Especially since the original policy already exists.

They just only ask for an extra 50 bucks a month and that is it.

So you can turn your spouse's 100k policy to a 1 million dollar policy without them knowing. Jmo.

That is very dangerous.

 

[Deleted member 159541]

Page #17, 3123: Envelope from Prudential postmarked 09/11/2007.

Page #17, 3124: Check made out to an insurance company (I can't tell what it says). It is drawn on a checking account only in Teresa's name with a different address than Jarvis (Murok Way). It is dated 11/11/2005. The memo says life insurance.



Page #17, 3125: Check made out to Prudential from same checking account as above. I can't tell the date, possibly 2005?

Page #17, 3867: Envelope from Ohio National Financial Services postmarked 08/22/2009.

Murok Way is Teresa's old address in St. Petersburg. The discovery showing the check is Teresa's handwriting and signature - doctor scrawl

 

[SurfieTX]

Page 33, 3078

Letter from Prudential Insurance to Myra Simmons at the Lee County Sheriff Office dated 08/31/2015 states that Mark Sievers is considered a person of interest in the homicide of Teresa.

 

[Russian Blue]

I wonder if they are going after whoever wrote the life insurance policies on a woman who's family financials were in such bad shape? Especially with that IRS lien. If MS didn't fess up to those additional policies on the first few passes with LE, then I bet TS didn't know about them and I bet they were fishy.

 

[KateB]

Page 33, 3078

Letter from Prudential Insurance to Myra Simmons at the Lee County Sheriff Office dated 08/31/2015 states that Mark Sievers is considered a person of interest in the homicide of Teresa.

I prefer the Suspect 2 title for MS on page #2730.

Between Sunday, June 28, 2015, at about 11:19 p.m., and Monday, June 29, 2015 at about 9 a.m., a homicide occurred at 27034 Jarvis Road, Bonita Springs, Lee County, Florida. Suspect 1 was in communication with Suspect 2, who was at <snip> New Windsor, New York.

 

[Stopwatch]

#3085 - On July 17th, MS writes to Prudential authorizing his financial services company permission to handle the life insurance claim for him.

#3140 - On July 29th, Prudential kindly informs MS that since TS' cause of death was a homicide, there will be a delay in processing the claim. They will be following the police investigation, and they apologize for any "inconvenience" the delay may cause him.

Doh!

Must be hard to have to write a polite letter to someone you have strong reason to believe had their wife brutally murdered. On the other hand, must feel good to inform him that his half-baked plan isn't fooling anyone.

The utter sadness of all this is starting to really sink in. Thank goodness they didn't get away with it.

 

[DexterMorgan]

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

There was a female person on fundme that was truly defending the million dollar goal due to what Teresa would have wanted for her kids.

But I wonder if that person knew that $5 million was waiting to be paid out?

Imo. The fund me truly showed us that Mark knew this was botched from the beginning. Jmo

How dare you ask people for a million when holding a 5 million dollar policy. Jmo

 

[Russian Blue]

All of these ventures, LLCs, the TV show, the wealth management, the health guru gig, the supplement and pain management business. MS may have had TS believing they were on their way up the financial ladder and would need this kind of life insurance in the future. The wealthier you are the more you are typically insured for. This guy that MS is going to for help with the insurance maybe he talked them into it. Go watch the youtube with his wife and Teresa. And again, we have said it mulitple times, seems like she really did not know the state of their finances.

 

[DexterMorgan]

Let's remember though. It's possible that Mark and Teresa agreed on having some policies.

But its also possible that Mark called them up without her knowing and upped the policies to be way more lucrative.

So since she was already on the paperwork and did the physical and whatever else for those policies. They wouldn't need to contact her if Mark called them up and said that he wanted to go with a higher payout and he will pay the higher premium.

They most likely would just up the policy over the phone and mail him the papers to sign. Jmo.

 

[human]

There was a scandal a few years back about this kind of thing going on. I think the company might have been Walmart that was cashing in on the deaths of current and former employees who died. While the families of the deceased were left with nothing.

It was called "Dead Peasants"

 

[human]

Teresa was aware of two of them. She was making payments as early as 2005 from her personal checking account to Prudential and another one, possibly Ohio National Financial Services. I can't make out her handwriting on the check, but it does say life insurance on the memo line.

Page 17, #3214 (scroll down from there and the rest is there)

ETA: Both payments were in the mid 90.00 range (? per month?, I have no idea). I also have no idea if the amount stays the same over the years. I guess it does?

I always sign stuff with my hubby's name. He said he figured if he signed anything sometime, it would be questioned as to the signature. Many many wives I know do this. I would not be surprised that MS signed her name to things

 

[ATasteOfHoney]

I will offer an unbiased opinion of the life insurance:

I work for high net worth individuals, many have multiple, substantial life ins. policies (personal, business and umbrella liability). It IS NOT unusual, for someone with vast earning potential to carry several million dollars of insurance, utilizing several policies.

The purpose of such policies are to cover debt (mortgage, CC, loans), pay for children's upbringing, college, sustain the family in their current and future standard of living, taking into account inflation and cost of living increases.

Most of the insurance companies I have worked with require a physical exam with lab studies. In the case of policies over 2 mil, financial docs are also required to substantiate the necessity. I am implying that TS knew of at least SOME, if not all of the big policies. I do not find this unusual, TS was a smart lady and would want her family well taken care of.

I do not have the capacity to earn anything even close to TS, yet I have a large policy, all beneficiary designations are made to my estate. I have estate docs, which when married, left 55% to my ex and 45% to a "minor's trust" for my child/ren. This protects the kiddos portion from being mixed in with the spouses portion. It is important to do this because, if your widow remarries, their new spouse has access to all the $$$. I also have co-trustees on the minor's trust and both must sign off on any withdrawals, one trustee from each side of the family. I PRAY that TS had her estate set up this way as well.

MS had at least one policy on himself, IIRC for 250k/500k.

I think it is also educational to point out to fellow WS-ers that if you own an insurance policy, you can change the beneficiary any time you'd like & no alert goes out to the beneficiaries (past, present, or future)
Just say in'....