12 December 2005

You Bet Your Life

Benjamin Franklin famously quipped that "In this world nothing can be said to be certain, except death and taxes." What isn't certain is what people will do to adapt. In that vein, here's what passes for life insurance in Britain:
A 91-year-old British man who staked a 500-pound bet that he would be dead by the end of the first week in December lost his stake by staying alive, a bookmaker said Saturday.

Arthur King-Robinson said he put the bet on at odds of 6/1 at the start of the year because his wife would have faced an inheritance tax bill of 3000 pounds had he died in the intervening period.

. . . .

"I lost my 500 pounds -- but it gave me peace of mind," he said.

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