Life Insurance News
Jackson's children on course to get singer's life insurance proceeds
Michael Jackson's dependants are set to receive the King of Pop's life insurance proceeds following news that admistrators of his estate have taken delivery of the money, it has emerged.
The Associated Press (AP) has revealed that court records showing the funds designated for the musician's three children have been released to a trust owned by admistrators of Jackson's estate.
It is not known how much has been paid out because the documents, which were filed last week in Los Angeles, have been redacted.
The news provider also stated that the filings are meant to supplement a petition aimed at securing a monthly stipend for the children.
News of the payout comes in the wake of recent reports that the pop star's children have been "cheated out" of a higher lump sum because an aide failed to pay the musician's life insurance premiums in the last months of his life.
This was revealed to the Sun by Dr Steven Hoefflin, a plastic surgeon who was one of Michael Jackson's closest friends.
People with dependants are advised to obtain life insurance if they want to ensure their financial futures are protected if death occurs.
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