Firm files suit against the Kaye Insurance Group on behalf of Boynton Beach couple

April 7, 2010…Hargrove Pierson & Brown P.A. has filed suit against the Kaye group challenging the sale of a “life settlement” insurance transaction causing the couple to lose in excess of $500,000. As reported in the Palm Beach Post and South Florida Sun-Sentinel, “the so-called life settlement scheme was the cornerstone of the Kayes’ business which was memorialized with the jingle, ‘You buy, you die, it pays!’” After attending a “free lunch” seminar, senior citizens David and Aileen Epstein of Boynton Beach, were persuaded by Barry Kaye’s son, Howard Kaye, to turn in their three existing life policies worth $6.5 million and buy from him two new policies worth $28 million. The Epsteins were induced with the promise that the new policies could be sold in a vibrant market for life insurance policies for much more than the stiff premiums that they were persuaded to pay. The full article can be viewed at this link.