Lawsuit seeks to recover insurer’s payout on ‘illegal human-life wager’

By: Clark Kauffman

Outlets: Iowa Capital Dispatch

Published: March 27, 2026

Words: 784

Last Updated: 4 months ago

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A lawsuit has been filed against an Iowa company over an alleged scheme that involves investors betting on an elderly woman’s life expectancy by taking out a life insurance policy on her.

The lawsuit involves the late Evelyn Zeman of Michigan and a Cedar Rapids company called ULI Funding. According to Zeman’s estate, a group of individuals who had no ties to Zeman took out a life insurance policy on her in 2006 when she …

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