by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Expat Investor : October 2007
October 2007 EXPAT INVESTOR 9 LIFE COVER Focus, our award-winning, innovative and cost-effective platform, is a fully integrated banking and investment service. Designed to make your life easier, Focus can save you time and money. To find out more about our first class wealth management services, call us on+44 (0) 1624 645000 or visit www.fairbairnpb.com Focus Have Focus. Achieve More. (EXINV) First class service from the Best International Investment Platform Provider 2007 Winner Best International Private Bank Best International Investment Platform Provider 2006 Winner Best Offshore Bank Best Commitment to Service 2005 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) Best Internet Service 2004 Winner Best Offshore Bank 2003 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2002 Winner Best Offshore Bank Best Offshore Bank Product (FOCUS) 2001 Winner Best Offshore Banking Product Range distinctly different Fairbairn Private Bank is a registered trade name of Fairbairn Private Bank (IOM) Limited and Fairbairn Private Bank Limited. Fairbairn Private Bank (IOM) Limited is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business and its principal place of business is in the Isle of Man. Fairbairn Private Bank Limited is regulated by the Jersey Financial Services Commission to carry on deposit-taking and investment business under the Banking Business (Jersey) Law 1991 and Financial Services (Jersey) Law 1998 respectively. Registered office: Fairbairn House 31 The Esplanade St Helier Jersey. Latest audited accounts are available on request. Life cover is frequently a very solemn business and the issues dealt with are always emotive. However, the circumstances of some deaths defy both logic and basic common sense to such a degree that it seems unlikely a life office would pay out. LifeSearch has uncovered some of the most jaw-dropping reasons for expiring around the world and found that, as long as there was no non- disclosure or participation in a criminal act, the life office back in the UK would have actually paid the following claims. Incident 1: In 1993 Robert Overacker decided to challenge the 180-foot Niagara Falls. His plan was to ride a jet ski downriver and over the edge, where he would jump away from the vehicle while plummeting into the abyss. As he sprang from the seat a parachute would automatically detonate and he would be able to float safely down to the river below. Robert had been planning this stunt for several years. He was filmed leaping from his ski at the brink of the falls, where the parachute detonated. Unfortunately, it wasn't tethered to his body. The parachute landed safely in the river below, but Robert didn't. The life office says the resultant claim would have been paid. However, if his occupation or hobby was as a stuntman, or if he had been planning the stunt when taking out cover, then an exclusion may have been applied. It is also possible he would have needed a permit to do this and, had it been deemed a criminal act, no payment would have been forthcoming. Incident 2: In Oregon, US, in 2001, a local man lost control of his To y ota truck, which careered into a mailbox and flipped onto its side, knocking down high-voltage power lines. At that point, the motorist climbed from the truck with a pair of pruning shears in his hand and surveyed the situation. Seeking to disentangle himself, he reached up to clip the snaking cable lying across his truck and was electrocuted when the shears touched the 7500-volt cable. He was found face down on the power line with the pruning shears still in his hands -- his mortal coil shuffled off. His dazed passenger survived, only to be arrested on an unrelated warrant. The life office said that as long as there had been no non-disclosure and he wasn't doing anything illegal, like drink driving, then payment would be made. Incident 3: In 2002, a farmer from São Paulo, Brazil, decided to remove a beehive from his orange grove. He didn't know exactly how to proceed, but he knew the hive should be burned and he knew bees sting. So he protected his head with a plastic bag sealed tightly around his neck, grabbed a torch, and went off to fight the bees. You're covered, even for the dumbest acts! Fast Facts 88007 Fast Facts 88165 Research by protection specialist, LifeSearch, shows that, even for the most bizarre deaths, life offices will still pay out. His worried wife went to look for him a few hours later, and found his body. However, it wasn't the bees that had killed him. The plastic bag had protected him from smoke, stings and -- oxygen. He had forgotten to add breathing holes. The life office said that payment in full would have been made. Incident 4: In 2004, two Taiwanese university students, in an effort to impress a female colleague, agreed to ride their motor scooters at each other in a high speed 'joust', and the one who didn't turn away would win the exclusive right to pursue the girl. Obviously, both were very keen on her, because neither of them turned away.Their scooters fatally collided head-on at 50 mph. The girl at the centre of the rut refused to comment, other than to say that she "wasn't interested in either of them". The life office said such a claim would be paid. Incident 5: In 2002, a young man chose to play in a dangerous natural Hawaiian waterspout called the Halona Blowhole, which is a rock funnel formation that shoots seawater 20 feet into the air. A locked gate keeps people away from the stairs to the blowhole and a warning sign proclaims: 'Hazardous Conditions. Do Not Go Beyond This Point.' Saying he wanted to feel the water hit his chest, dozens of people watched in amazement from a highway viewpoint while he straddled the blowhole, arms outstretched, laughing, while spray washed over him. Then a large wave hit the rocks, and a blast of water launched him five feet into the air and dropped him headfirst into the blowhole. Divers recovered his body the next day. The life office said such a claim would have been paid. They added that, fortunately, they rarely see claims of this type. Matt Morris, LifeSearch Policy Adviser explains, "As long as there is no non-disclosure (for example, failure to disclose a dangerous occupation such as stuntman) or participation in a criminal act (for example, trespassing), the five cases of accidental death cited would have led to payouts, regardless of the obvious danger or foolishness of the deceased's behaviour." So, if you decide to get up one day and do something incredibly dangerous or dumb, you're probably still going to be covered. "This goes to show that life offices do pay out in the vast majority of cases, even in situations where you may at first think they wouldn't. Life cover is actually a very reliable product."