Hedge fund paid terminally ill people to sign up for "death puts"

A "death put" on a certificate of deposit means that the bond matures immediately upon the bearer's death, rather than when its term runs out: they're used as a form of life-insurance, cushioning the blow to loved ones from unexpected death, and they can be held jointly, so that the bearer's heirs and a third party get a payoff on death. (more…)