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Jackson Honchos Score $3 Mil

8/8/2009 2:30 AM PDT BY TMZ STAFF

The special administrators of Michael Jackson's estate scored a big one -- reeling in $3 million from the company that issued a life insurance policy to M.J.



John Branca (above) and John McClain quietly cashed in the policy -- reports it was worth upwards of $20 million are simply not true. It was a $3 million payout. And here's why it was a swift move -- the coroner hasn't even released the autopsy report yet.

Some life insurance companies are hinky about paying out proceeds until the cause of death is known. Remember Heath Ledger's death, when the life insurance company wouldn't promptly fork over the $10 million because Heath allegedly lied about drug use on the application?

Somehow Branca and McClain convinced the insurance company to ante up with lightening speed -- and the estate is $3 million richer for it.

647 COMMENTS

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91.

Daphne    

Right you are. There's something wrong with ALL of TMZ's Michael Jackson stories: they're just that -- stories, as in so untrue it's amazing people actually believe them.

_______________________________________________

99. Life insurance companies DO NOT pay death benefits until a CAUSE OF DEATH i.e. Death Certificate - is provided. There is something wrong with this TMZ story.

Posted at 10:20AM on Aug 8th 2009 by Speak Your Peace

1868 days ago
92.

sue    

to post doggone lover and dirty--- i agree he looked awesome up until something went wrong and what went wrong was the good ole dr KLIEN!!!!! he had to know that he was distroying what a great man looked like before all these surgerys..but in my heart he will always look great because he had so much inside to give that it doesnt matter what his outside appearrance looked like....rip mj ---sue from tampa

1868 days ago
93.

doc murry    

I just got back from mars...DID SOMETHING HAPPEN TO MICHAEL JACKSON?????

1868 days ago
94.

doc murry    

THIS MIGHT BE A DUMB QUESTION ,,BUT WHICH PICTURE IS MICHAEL JACKSON,,THEY BOTH LOOK DEAD..I MIGHT BE BLIND BUT IM NOT STUPID

1868 days ago
95.

wtf    

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1868 days ago
96.

TMZ_FAN    

Michael was a shrewd business man . . . GO Branca TEAM! RIP MJ

1868 days ago
97.

TEAMBRANCA    

IMJUSTNOISY


BRANCA is honest unlike McMillan. No spin or manipulation...just the facts and action!
He's da bomb

1868 days ago
98.

TEAMBRANCA    


Speak Your Peace


Its probably a settlement. The ins company might not want to
completely stiff MJ's estate...bad press. You KNOW he paid more
than 3million towards a 20 mill. policy over the past 20 years. Its
probably less than the cash value of the policy at the time the
crooked associate stopped paying the premiums a few months ago.

1868 days ago
99.

TEAMBRANCA    

I cannot believe ET has Diane Dimond on its team. SHE IS A FAKE STOOGE. CONTACT ENTERTAINMENT TONIGHT AND TELL THEM WHAT YOU THING.

ET has definitely taken a turn for the worse since adding on Diane Dimond to their team. Contact CBS Studios regarding this at et.newsdesk@cbsparamount.com. I hope many others will see this and do the same regarding Ms. Dimond and the direction ET seems to be taking.

AGAIN THE ADDRESS FOR ENTERTAINMENT TONIGHT IS:

et.newsdest@cbsparamount.com

1868 days ago
100.

Michelle    

If this story is true, they settled because the lawyers want to get some kind of compensation for their time and work.....they are working hard and they need to get paid. It is not all about the Jacksons.

1868 days ago
101.

http:www.thessayist.com    

I cannot believe all the bickering and bone-picking!

And it won't stop ever - I feel very badly for his kids.

Texaswriter
www.thessayist.com

1868 days ago
102.

danger baby    

I am a fan of MJ's but my God he looks exactly like a Tranny here. His employees at Neverland said he wore thick pancake makeup every single day. I prefer the 80s early 90s look. How can a $3 million payout on a $20 million policy be considered a coup? Why would they pay anything now? None of this story makes sense.

1868 days ago
103.

danger baby    

Kathryn has reportedly banned the children from accessing the Internet for obvious reasons. Carry on.

1868 days ago
104.

TEAMBRANCA    



Sorry that email adress for entertainment tonight has been deactivated.

1868 days ago
105.

Missy    

#51

I couldn't have said it better!! Michael was an angel sent by GOD!!
Love you Michael

1868 days ago
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