IOWA -- Court documents show that the adoptive parents of Natalie Finn--who are now accused of the teen's murder--had taken out a combined $35,000 worth of life insurance policies on their daughter.
As the trials approach for Nicole and Joseph Finn, one insurance company is asking the judge to take the policy off their hands and instead issue the payout at the end of the trials.
Court documents show two separate policies: a $10,000 policy with Hartford Life Insurance, and a $25,000 policy with Modern Woodmen of America. The larger of the two policies was taken out in 2009 and was to run until Natalie Finn turned 30 years old.
The documents go on to show that Joseph Finn contacted Modern Woodman to report Natalie's death on October 26th, 2016--the day after she died.
On January 4th of 2017, Natalie’s oldest brother, Alexander Finn, also contacted the insurer, and did so a second time in September. In October, Modern Woodmen received the completed claim form from Alexander.
Modern Woodman is asking the judge to handle the payout over concern of litigation from other Finn family members given the complicated nature of the case.
In the case of the death of the insured by the “hand of a beneficiary," Modern Woodman's policy states they shall automatically be disqualified from receiving any of the money and be considered to predecease the insured. According the filings, if no father or mother is considered to be "surviving," the insurance money would be split between the insured's brothers and sisters. If no brothers and sisters are considered "surviving," it would go to the insured's estate.
The situation is complicated further because Natalie’s mother Nicole is listed as the principal beneficiary, and her brother Alexander is listed as the contingent beneficiary, but designated as her father.
Joseph Finn’s lawyer says to the best of his knowledge the Finns took out policies on all their children, and his client wants no part of any insurance payout, preferring it go to the rest of his children.
If the court finds the defendants innocent, the policy states the $25,000 would be paid to Nicole. It is unclear who was the primary beneficiary of the $10,000 policy.