Grapevine: May 14, 1990

POLICY DISPUTES. According to insurance-industry executives, publisher Malcolm Forbes took out millions of dollars worth of life insurance with different companies in the years preceding his death. He often said this was an efficient way to pass along money to his heirs, but now at least one of the insurers is balking -- and investigating some of the information the publisher supplied on his applications. Says Richard Bevilacqua, public relations director for John Hancock: "Forbes had a multimillion-dollar policy that was taken out in the last two years. A claim has been filed, but we have not paid it, pending an...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!