January 12, 2013
Kris Jenner Asks Kanye West to Take $10 Million Life Insurance Policy
Kris Jenner insists that Kanye West takes out a $10 million life insurance policy to secure the life of his child with Kim Kardashian. Kris wants the rapper to name the couple's baby as the primary beneficiary and Kim as secondary beneficiary.
Kanye agrees to get the policy and says he actually already looked into it before Kris even brough it up. While Kanye is in perfect health, he travels a lot and not all of his tour spots are the safest locales.
See Kris Jenner Wants Kanye West to Take $10 Million Life Policy, The Indian Express, Jan. 12, 2013.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
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Such a nice couple.
Posted by: brian j. cohan | Jan 12, 2013 3:30:05 PM
We want ILIT!
Posted by: Hugh Goggins | Jan 13, 2013 9:01:52 PM
The kid should not be the primary beneficiary of the policy, his Living Trust should be the beneficiary. If something did happen to West, the kid would receive a $10 million dollar check on its 18th birthday! West should make the beneficiary of the policy his Revocable Living Trust so he can control the distributions of the $10 million to the child. For Example, instead of the kid getting $10 million at age 18, have the beneficiary be the Trust and have it distribute a 1/3 at age 25, a 1/3 at age 30, and a 1/3 at age 35.
Posted by: William Angelo Jr. | Jan 16, 2013 8:50:07 AM