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So How Did Toni Braxton Go Broke Again?

| Filed under: Music MinuteBusted!Toni Braxton

origin of toni braxtons financial issues is revealed

This teaches us a valuable lesson: Don't lie on your insurance forms. It can come back to haunt you, and in Toni Braxton's case, it can put you on a downward financial spiral.

In 2006, Braxton took out "show insurance" through her hotel, Lloyd's of London, for her act at the Flamingo Las Vegas Hotel & Casino.

Toni's heart condition began to act up during the middle of her show's run, so she had to very unfortunately bail on the show, but then found out that shes was still on the hook with the hotel for LOTS of $$$.

Toni's office called Lloyd's about the insurance plan, but they wouldn't honor their end of the agreement, arguing Toni had an undisclosed, preexisting medical condition, which would therefore make the insurance policy null and void.

…And that's how Toni Braxton's financial disaster began.

Whose side are U on? Team Toni or Team Lloyd's?

[Image via WENN.]

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19 comments to “So How Did Toni Braxton Go Broke Again?”

  1. 1

    Lloyds of London isnt a hotel…its an insurance market where you can insure just about anything, for a price.

  2. 2

    Tony! Insurance companies screw you over regardless. If her plan is null and void then I bet they'd love to give her back her montly premiums. Ha!

  3. 3

    You're an idiot Perez. Lloyds is an insurance issuer, not a hotel. How about some research?

  4. 4

    That is just a excuse on her part. Poor me the insurance company wont pay. If she didnt disclose her condition they shouldnt pay. But more to the point she ran up bills at the four seasons, BMW etc etc that is how she got into debt - by being IRRESPONSIBLE!

  5. JuNoZ says – reply to this


    Poor Toni stays in the broke house, I hope see get’s it together soon.

  6. 6

    Insurance companies suck!!! They take your premiums and then fight tooth and nail when it's time to pay. Just examine their profit margins if you doubt. Bring on national healthcare!

  7. 7

    Team Toni. Insurance companies are idiots. They will always screw you over every chance they get.

  8. Jaded says – reply to this


    I have to side with Toni on this one because insurance companies never pay up. I find it funny that insurance is a legal business it's more risky than playing craps. I think they should be required to give her back her money if they are going to deny a claim based on undisclosed health issues. First I don't know how they were undisclosed, even I knew Toni Braxton had a heart condition. Five minutes of goggling or checking wikipedia would have told them that.
    On the other hand who are Toni Braxton's friends. At some point before she got $50M in the whole someone should have slapped the shit out of her.

    Didn't the hotel have insurance on the show? How does she owe the hotel money it's not like she refused to complete her contract she is unable to?

  9. ei says – reply to this


    this is a low life dead beat. uses bankruptcy to scam creditors out of their products, and services, this isnt anything new people do it all the time. she is no different than a thief

  10. CocoK says – reply to this


    Forget the money, what in the hell has she done to her face???

  11. 11

    Easy to fight. If she was born with the defect it isn't a "pre-existing" condition…it's part of her natural anatomy. According to the Health Insurance and Portability Act she cannot be denied coverage for any illness or defect that was present at birth. Therefore Lloyd's needs to pay up…

  12. 12

    lol. lloyds is an insurance company, not a hotel.

  13. 13

    Lloyds of London is now a hotel? LOL Yeah, okay.

  14. 14


  15. 15

    Wow, people are actually wondering where her money went? LOOK AT BITCHES FACE. You want to walk around with a plumped tight face you have to pay for it. YOU have to, not insurance. Insurance doesn't pay for things like designer clothes, expensive cars, etc. either. Bitch, please.

  16. 16

    she should have disclosed the medical issue and paid the premium… why else would she really need the insurance anyway, I mean everyone knew she had the heart condition prior to the show… she just got caught with her hand in the cookie jar and her money managed by idiots…. or maybe one of those famous hollywood "a cousins".

  17. 17

    It was up to Toni to disclose her health issues. the insurance company has every right to deny her claim, seeing as she was dishonest in the first place. Insurance Companies, do not screw you over regardless. If everything is in order and the client has disclosed everything, then the insurance company would pay. Of course Lloyds insurance policy is null and void. Why should they pay to someone who covered such a serious condition up, and effectively lied about it by not disclosing it.

  18. 18

    Re: Jaded – Googling or checking wikipedia cannot be used by an insurance company as a basis to approve or deny insurance. What a dumb ass comment.

  19. 19

    For education, Lloyds is not an Insurance Company, it is a building where many people. known as "Underwriters" represent people who pledge their whole wealth to take on risks from people/companies who need insurance.
    Insurance Brokers go round the building approaching Underwriters with the details of the risk. They then decide the best deal on offer. If they do not disclose the full details of the request and something goes wrong, why should the insurance syndicate pay out? The people who have to pay may be your Mom, Grandma, Uncle.
    Imagine a Horse Racing bet where a real hot shot is substituted for a dog? That's fraud and so is false or untrue declaration of facts.