In a deal which is probably worthy of a Matt Levine column, Rakuten is soliciting all of their gold card++ customers to become beneficiaries of a Rakuten-funded insurance policy. The deal: Free to you. Rakuten pays premium. 5万円 ($500) if you are diagnosed with cancer this year
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I’m betting 80% likely to be a tax optimization.
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You are probably wondering “What could that optimization be?” and I’m betting the answer is “Move income from now into the future by expensing the policies today and getting cash value and claim income smeared over 12~18 months.”
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Details in Japanese for the curious:pic.twitter.com/rOZn7Ig6pE
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Replying to @patio11
It’s such a good deal that I’m suspicious.
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Replying to @shoinwolfe
It’s almost certainly “Hey can we borrow your identity for a bit to do some tax structuring? We’ll pay you essentially $5, since you have about a 1% chance of getting cancer this year.”
7:40 PM - 11 Nov 2018
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