stranger-originated life insurance
n.— «In what has to be the wackiest new trend in life insurance, many consumers are allowing total strangers to place bets on when they will expire—and the sooner they go, the bigger the payoff. It’s called Stranger-Originated Life Insurance, or STOLI for short.» —“Stranger-Originated Life Insurance a bad bet, regulators say” by Paul Wenske Kansas City Star (Kansas City, Kansas/Missouri) Mar. 8, 2008. (source: Double-Tongued Dictionary)
Further reading
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These policies are also referred to as Investor-Initiated Life Insurance.