Saw this great story on realestate.co.nz in which the imagination of one US-based real estate agent in association with a canny vendor came up with the ultimate marketing concept using a life insurance policy.  

The ad goes like this… Buy my house and have the opportunity of getting your money back!   

No, this isn’t some kind of bizarre money back guarantee scheme… it’s a perfectly legal and innovative use of a life insurance policy.  

This is how it works.  

The home owner is Bob Fanning.  Bob is offering the buyer of his $489,900 house a free life insurance policy to the value of $500,000. The insurance is on Bob’s own life, so if he dies, the policy pays out.   

The wise buyer will be morbidly hoping that Bob Fanning dies within the 10 year term of the policy because if he does, the buyer collects $500,000.  

This scheme has the full consent of Bob’s wife as it’s a separate life insurance policy established purely as a sales tactic. Just the thing in these tough times.  

Just for the record, Bob is 69 years old, and in case anyone suspects that foul play may be looming to bring a swift end to Bob’s life, the attorneys have made sure the policy is voided should Bob meet an untimely or suspicious end.  

As for the odds: Bob claims to have no health problems (although he admits to being “too short” for his weight).  Both his parents died before age 79, as did a sister. He said he’d be willing to disclose his medical records to a buyer.    

Is there no end to the use of a life insurance policy???? 

(I understand Steve Koerber of Barfoot & Thompson sourced the story… so thanks Steve.)