AEG's Concert Insurance Covered Drug Overdose

July 3, 2009 By:
AEG's Concert Insurance Covered Drug Overdose

The true cause of Michael Jackson’s death is going to make a big difference to his concert promoters AEG. The company took out a huge insurance policy prior to booking Jackson for his 50-show residency in London.

According to TMZ, that $17.5 million policy covered a possible drug overdose from Michael. But the Lloyd’s of London policy did not cover his death of natural causes!

AEG’s CEO Randy Philips says even in the event they do collect on his insurance policy, the money will still fall short of what they spent on Michael’s advance, producing the show, and covering some of his debt, which cost them close to $30 million.

But at least it help out a little! What do you speculate at this point? Do you think Michael’s death will be ruled an overdose or natural causes from cardiac arrest?