Concert Promoter's Insurance Covers Overdose!
Filed under: Michael Jackson
AEG, the promoters of Michael Jackson''s planned 50 date residency at London's O2 Arena, prepared themselves for anything, including MJ's death.
The company took out a hefty insurance policy that would somewhat cover the expenses should MJ's death be an overdose. However, strangely enough, AEG's chief executive, Randy Phillips, said the $17.5 million policy DID NOT cover a death from natural causes.
However, even with the policy in place, the company will still be in about $25-$30 million in debt due to Michael's sudden death.
[Image via WENN.]
Posted: July 3, 2009 at 3:15 pm
first
…we already know this.
Sucks for them, but then again, no one could've planned this.
Very very shady!!!! This is almost like a husband taking out a million dollar policy on his wife to cover falling off a cruise ship. Then she just so happens to fall overboard and the husband was no where to be found. Until time to collect. If any of these doctors or anyone connected to them took this policy out I would get many red flags going off… Sounds like murder to collect insurance!!!
OK! HERE WE GO!
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Re: gabeekeeper – Are you really a bee keeper?
What a bloody mess, I swear MJ pretty much fucked everyone over in his death, they should've known all this to begin with though, I feel bad for the company but he was already a fucking train wreck,
Re: Laury – Yes, they could have.
PEREZ!!!! You are so far behind!
The conspiracy continues….check out these that are listed on eBay:
www.MichaelJacksonDrugAddict.com
www.MichaelJacksonsAddiction.com
www.MichaelJacksonDrugProblem.com
www.MichaelJacksonsDrugUse.com
www.MJsDrugUse.com
www.MJsDrugAddictions.com
Only going to get worse as time goes on.
thats really wierd. covering overdose but not natural causes. the pieces are coming together.
Re: SWEETPIECE! – Happy 4th Sweets!
Which means if he did pass away from 'natural casues' no one will ever know because, the dodgy gossip papers and everyone on the pay roll needs it to be a drug related cause of death so they can recoup some of the loss and have a fantastical story. Maybe the insurance company needs to do there own autopsy too?! The whole thing stinks of sh#t… no wonder the guy was paranoid, everyone spreads rumours. Any sane person would go mad with the stuff the papers make up. I cant beleive there are journalists getting paid to litrally make stuff up - jesus I can do that, you dont even need a f*cking qualification (or it seems morals)!!
Lloyd's the Insurers in question, have scoffed at this rubbish as insanity= NO insurers ever insure for suicide OR drug deaths,Do get real.They are fuming with the crap over MJ.98% of media tales are total BS.with every moron attached to him in life and death are trying to cash in with absurd stories.What a lot of crap.
Okay, so first of all I work for an insurance company in the death claims area.
No it's not strange that the promoters would take out an accidental death insurance policy. These are very popular, with everyday people. And to be honest, what are the chances Michael would have died from natural causes as opposed to an accidental cause? We've all known for years that he was a wreck…every time I saw him on TV he looked whacked out on something.
In reply to faredooz, no they won't claim it was due to a drug overdose just so they can get insurance monies. Insurance companies are very heavily audited and follow strict guidelines. When someone dies like this a lot of different things will be needed for the claim including a police report, medical examiners or coroners report, etc.
And in reply to Phew!!!, YES insurance companies DO sometimes insure for suicide and drug deaths. It all depends on what kind of policy you have and what type of exclusions are written in the policy contract. But I've paid numerous policies where suicide was the cause of death or overdose.
True happiness is when you try the best for yourself.
This is one sad story. I've been hearing that he was setup and this only adds fuel to that fire. I feel sorry for the way he allowed the media to portray him. A genius gone.
"However, strangely enough, AEG's chief executive, Randy Phillips, said the $17.5 million policy DID NOT cover a death from natural causes."
Yeah, that's pretty odd to insure in case of accidental death but not natural death. Were they expecting something??
They probably already knew he was a risk. Sad when there are people for hire to keep things hush-hush. Wow is everybody shocked that this happened. I'm not. Half of hollywood are on drugs. When the Lindsey Lohans of the celebrities in hollywood get into trouble we shouldn't knock them. They are probably more true to themselves than we give them credit for. They don't hide the fact that they are normal and fucked up just like us. Michael Jackson was fucked up but couldn't admit it to himself. Then you have people around him who couldn't admit it either. That would affect their money maker. Sad!!!
Isn't it AIG … the insurance company that we bailed out?
Re: BlackGaySocialite – I doubt he's been "setup". Plus hes been doing drugs since the 90's.
If he died from 'natural causes', it'd be a friggin' miracle! It's interesting to note that they even considered insuring against OVERDOSE! Hmmm,… they must have known something. I think it's been well known in show biz that he had a serious prescription drug problem. I have read where MJ said, 'my doctor said it's safe to take', or some crap like that. If you pay certain Doctors enough money, they will say and do whatever you want. Too many people think that if it's doled out by a Doctor, it's OK. An addiction is an addiction. Just look at Freaking Elvis. Same shit, different decade. Crack, Heroin or Prescription pills/shots, it's all f-ed up!