I'm having some Fred MacMurray in "Double Indemnity" visions. The Oklahoma State Athletic Department will be taking out $10 million insurance policies on 25 of its alumni/donors.
OSU's "Gift of a Lifetime" program involves selected alums in a broad age spread who have qualified for $10 million individual life insurance policies and agreed to name Cowboy Athletics the beneficiary. Cowboy Athletics is paying the premiums. So far, 25 alums have qualified for the program, which is a form of testamentary giving.
Oklahoma State will pay $20 million in premiums on the 25 alums. Sort of. They borrowed the money to pay the premiums. The members of the Deathwatch class of 2007 all are between the age of 65 and 85 (and presumably white and male) and passed a physical (meaning the insurer is not the same company that Ed McMahon pitches on daytime cable).
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Already other schools are inquiring about how the program works, so expect this tactic to spread. I'm sure the official names for other programs will be equally versed in double speak in how they title a program that encourages their fans to literally die for their school. I do think the Penn State program called, "Just try and outlive Joe Paterno" is a winner.
Other views on the Cowboy Deadpool:
The Wizard of Odds: Pickens Again at Center of Controversy
Every Day Should Be Saturday: T. Boone Pickens Bets on Death, Sweet Death