|
'Suicide' could cost Kebbles R30m
22/12/2006 08:48 - (SA)
Borrie le Grange, Beeld
Johannesburg - Murdered mining magnate Brett Kebble's family faces the bleak prospect of having to pay back R30m in insurance money if he indeed died in a bizarre assisted suicide.
Kebble took out life insurance with Liberty Life and Discovery Life only a few months before he was gunned down in Johannesburg in September 2005.
Glenn Agliotti, 50, a business associate of Kebble and the alleged mobster accused of killing the mining magnate, told the Johannesburg regional court in a bail application last week that Kebble planned his own death.
He allegedly had to make sure that Kebble died in what had to look like a botched hijacking, he told the court.
According to life insurance policy conditions, no payments are made if the client committed suicide.
Kebble's estate, his wife and children were the beneficiaries of the policies, which had already been paid out.
According to Liberty Life spokesperson Mandy Denton the company never suspected any foul play after their forensic investigation into the murder had been completed.
Liberty paid out about R10m.
"It seemed like a normal murder. The new allegations and the turnout would indicate our future course of action.
"Insurance is based on insuring against the unforeseen and not something that had been planned," she said.
It seldom happens that the beneficiaries have to pay back the money, she said.
"We'd never recorded any cases of assisted suicide before. This case is definitely unique. We will have to find a way to get the money back if Kebble's death was indeed suicide."
Insurance companies usually ask beneficiaries to pay back the money voluntarily, but if there's no reaction, they turn to legal action.
Discovery Life confirmed Liberty's statements and agreed that assisted suicide was very rare.
Kenny Rabson, senior actuary at Discovery Life, said Kebble took out life insurance of about R20m, which had already been paid out to his estate as no other beneficiaries had been nominated.
"Should the suicide allegations be proven, we could claim against the estate.
"But we will have to keep in mind that the estate is insolvent and that Discovery is a concurrent creditor and not a preferred creditor (such as the South African Revenue Services), said Rabson.
- Beeld
|
News
