Get “Trademe” to auction it

I see Matt McCarten’s latest publicity stunt is to sell his life insurance policy to help settle his debts before he croaks. The headling at NBR made me wonder whether his mate and collaborator Matthew Hooton had arrange for iPredict to run stocks on McCarten’s demise.

On reading the article I saw he was trying to sell the policy.

He would be much better off getting “Trademe” Trev to auction it…after all he gets 70+% profit margins on his resells.


THANK YOU for being a subscriber. Because of you Whaleoil is going from strength to strength. It is a little known fact that Whaleoil subscribers are better in bed, good looking and highly intelligent. Sometimes all at once! Please Click Here Now to subscribe to an ad-free Whaleoil.

  • John Q Public

    Shows his lefty’s lack of financial literacy. If there’s no terminal illness early pay-out clause, which is common in older policies, he’d be better just to say ‘fuck it’ and wait for his family to sort it by claiming in the normal fashion. He rather a stranger profited by it?

  • ConwayCaptain

    John Q when my wife was v sick and we knew she was dying the ins company paid out very quickly when we had a letter from the medical people.  They handled the whole thing very nicely and with extreme kindness.

  • Paulus

    There is a terminal illness payment but he has not reached stage 4 when this cuts in.

  • Peter Wilson

    My understanding is you can only sell or assign a policy under very strict conditions, the main being the beneficiary needs to have some genuine financial or emotional connection to the policy holder. In any case, price wise, surely he would only get LESS than the sum assured, which means he’d be better off letting his estate handle things – as per John Q Public.

  • Pharmachick

    Whale, and the rest of you above (apart from Conway Capt):


    FFS, the man is dying… 

    “there are greater things in heaven and Earth Horatio …”