I don’t get it

Hunh?

I’ve only been in this industry a measly 31+ years, so maybe I’m missing something, but how does one amass almost $5 million in life insurance and not even know about it?

Years ago, Petersen International Underwriters would issue policies on divorced spouses to cover alimony and/or child support obligations; supposedly, this could be done without the insured’s knowledge. I never understood how this would work, but it’s a moot point now since they apparently no longer offer that coverage.

Life insurance applications require that the proposed insured sign multiple times, and depending on the face amount, undergo medical underwriting (exams, financial interviews, etc). I just don’t see how the perpetrator was able to obtain any such coverage, let alone almost half a billion dollars worth of it.

Someone care to clue me in?