Separate names with a comma.
Discussion in 'Now Playing - TV Show Talk' started by Marco, Jun 3, 2012.
A resignation has the be ACCEPTED to be official. It wasn't....it'll pay.
We obviously have a number of non-life insurance professionals commenting. Once in effect if there was no fraud involved in the application (no lies, all facts disclosed to underwriting and accepted) and the policy is over two years old, it must pay. The insurance contract is between the owner (who is not necessarily the insured and in this case is the ad agency) and the insurance company. The owner has the right to name and change the benefiiciary and even the person insured under some circumstances but usually subject to re-underwriting.
I still don't understand why getting or not getting the life insurance payment would be a major plot point in the show.
One character (Pete) made a specific reference to the company's insurance policy and it's suicide clause. Another character then commits suicide. Throughout the show there have been many references to death and suicide both subtle and overt. So the writers have made it a plot point. There will be an issue over whether Lane's wife will collect.
Or were you saying you don't understand why the writers chose suicide as a running theme?
I recall the reference Pete made. I get the suicide part. I just don't get why an insurance payment is a huge deal. Does the payment go to the firm or the wife ? If to the wife, who cares. If to SCDP, does it save them financially after Lane got an extra $50,000 ?
I guess I really don't care so much about this plot point and wonder why others make it an issue. I'm more interested in Peggy and where she is and how SCDP grows without P (insurance or not)
I don't think there's anything left untouched. Lane told the partners he found an extra $50k. He didn't tell them it was from their line of credit. They originally intended to pay themselves bonuses, but then the Mohawk strike happened and the Jaguar opportunity came up and so the partners agreed to forego their bonuses so that the firm could still pay bonuses to everyone else and have the operating funds they needed to cover the lost income from Mohawk and the increased expense of Jaguar.
They won Jaguar. So, they should start to see money from that. Though I do recall there were conversations about different fee structures for that deal? Or at leas the possibility of it. Mohwak strike can't last forever, right? I guess they will be back to normal there (of course, I know Mohwak eventually goes away or gets bought up. But don't know when)
The policy is a legal contract. If the terms are met, it has to pay out. The insurance coverage wouldn't be lost simply because he's no longer employed at the firm. It might (unlikely) mean that the beneficiary has to change, but the insurance company doesn't get out of paying just because he resigned.
Hence the episode, and thread, title.
Without knowing the terms of the contact, it's hard to say. I am no insurance expert. But I have to think a policy for the benefit of the firm is contingent on the person being an active partner. If he is not a partner/employee, they have no insurable interest. If he resigned, moved back to London, then six weeks later he died, there would be no benefits. The events happened so close together, it's fuzzy.
I'm with smeek in that I hope they don't spend a lot of time fussing over insurance or any of the details of Lane's death. I'd like them to move on.
I really hope next season we get more of the ad side of things. Maybe Don and Peggy can go head to head for several accounts. That would be fantastic.
All the stuff about Pete's insurance policy was to provide a reason for Pete to go to that guy's house so he could get it on with his wife. I'm with smeek - whether or not Lane's insurance policy pays out isn't interesting and won't be a major plot point. It might rate a mention but it won't be a story line.
This. And it should be a small but important plot point, but one that is quickly forgotten about after the last episode of the season.
It's not a major plot point? Well sure it's not the underlying message/themse but it does have quite a bit to do with the company's future.
My prediction for the season finale : Don cheats on Megan!
I am an insurance professional and you are wrong. Insurable interest is only necessary when the policy is issued. Policies are often maintained for the benefit of the business long after an employee leaves and carried on the books as an asset.
However, if Lane only had the policy for the benefit of the business, or possibly if he had a policy for his wife through the business, there's a possibility that his wife gets nothing. I suspect some sort of uncomfortable scene as Don has to go talk to Lane's wife to (a) tell her that he's dead (she probably doesn't know yet), and (b) that he resigned first.
Interesting! I wouldn't have thought that would be possible or reasonable. Obviously there's some benefit to the insurance companies but it sure doesn't make sense! Like keeping insurance on a house after I've sold it.
I don't know how it was in the '60s, but here's some reading for you: http://online.wsj.com/public/resources/documents/april_19.htm