All insurance stuff must be made transparent and strictly controlled by the officials so nobody fakes his own death and then get himself money as some anonimous Guy Fawkes somewhere in the republic of Los Pendejos Archipelago and then he'd drink piña colada for the rest of his life knowing that his insurance couldn't be verified by anyone ))))
InsurePal has a self-regulating social proof insurance. In the case that you described, things won't be that easy. If Guy Fawkes want's to have InsurePal life insurance, he'll have to find an endorser, that will vouch for him with money. Since this is a life insurance policy, the amount will be high. So, If Guy has a history of fraudulent behavior, it will be hard for him to find such an endorser. Also, if Guy fakes his own death and flees to drink piña colada, the endorser loses his money and pays the penalty. If Guy is a trustworthy person, he won't commit fraud and run to republic of Los Pendejos Archipelago to drink piña colada.