A fraudulent activity whereby a life insurance policy is purchased by a party with knowledge of a pre-existing condition. The agent selling the policy typically has knowledge of the condition. The goal is to sell the policy shortly thereafter to receive a portion of the face value, to avoid detection of the falsehood upon death.
Related information about clean sheeting:
- Clean Sheeting Definition | Investopedia
The fraudulent act of purchasing a life insurance policy without disclosing a pre- existing terminal illness or disease. This type of fraud is often done with both the ...
- "Clean Sheeting" Described for Purposes of Life Insurance Policy
Clean-sheeting” is the practice whereby an individual, alone or in conjunction with a third party, commits fraud in the life insurance policy application process.
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Clean Sheeting, Money Laundering and. Other Dirty Tricks: Life Insurance Fraud Update. David T. McDowell. Edison, McDowell & Hetherington LLP ...
- Clean Sheeting - Financial Dictionary - The Free Dictionary
A crime in which an insurance agent and a potential policyholder purchase a life insurance policy without discussing a preexisting condition. Clean sheeting ...
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- What is Viatical Fraud?
Clean-sheeting occurs when a person with a life-threatening illness applies for new life insurance and does not disclose the truth about his/her health. Dirty- ...
- Viatical Fraud, Viatical Settlement Fraud | Amrita Financial
One form of viatical fraud is “clean sheeting”, when a prospective insured misrepresents their poor health as good. This is done to in turn qualify for a new life ...
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