Was Chris Watts’ Family Covered By Life Insurance?

Chris Watts took out a $450, 000 insurance policy on his wife Shanann Watts and daughters Bella, 4, and Celeste, 3, prior to their deaths. The policy paid out in full in the wake of their murders, but there was a problem with the money. His mother initially believed his father was having an affair because he couldn’t account for missing money. Cindy and Ronnie Watts tried to cash in on nearly $475, 000 in life insurance policies following the murder.

In an interview with LE, CW stated that he had a life insurance policy through Anadarko on Shanann and the girls, with $20k each for Bella and CeCe and either. Technically, the life insurance on Shannan and the Watt’s children was through a life insurance benefit offered by Andarco, Chris’s employer. Most likely, Chris had an amount deducted from the policy.

Shanann Watts, who was 15 weeks pregnant, was found on a property owned by Anadarko Petroleum, the company where her husband worked as an employee. Based on this information, it is very likely that they were not far from another bankruptcy. Without a massive overhaul in their lifestyle, they wouldn’t be financially solvent. Chris had pulled money from the policy.

Three years before Weld County investigators believe Chris Watts killed his wife and their two children, the Watts family filed for bankruptcy with less than $10 left in. Chris was the beneficiary, so the grandparents figure into this. Chris had a $450k life insurance policy through his employer that would pay out in the event of an untimely death. The two families, Chris Watts’ parents and Shanann’s parents, are in court fighting over the $450, 000 life insurance that Chris had purchased.

Does Chris Watts Have A Life Insurance Policy?

Chris Watts had a $450, 000 life insurance policy through his employer, which included $300, 000 for his wife Shanann and $75, 000 each for their daughters, Bella and Celeste. However, there was no insurance coverage mentioned for Shanann's unborn son. Following the tragic murders of his wife and daughters, the policy paid out in full. Speculation arose that Watts had taken out these policies to fund a new life with his mistress, although this remains unproven.

Before the murders, the Watts family was facing financial difficulties, including bankruptcy. After confessing to the murders, Chris Watts was sentenced to life in prison, where he continues to serve. His parents have expressed disbelief over his actions, asserting he is neither a sociopath nor psychopath. Following the murders, they engaged in a legal dispute over the life insurance payout, claiming the money was rightfully theirs, though it had been taken out by Chris with himself as the beneficiary. The case highlights the unsettling link between financial motives and the horrific crimes committed by Chris Watts, unfolding a complex narrative of grief and legal contention.

How Was Chris Watts' Money Split?

Chris Watts' parents, Cindy and Ronnie Watts, collected insurance money after the murders of their son’s family, but details on the distribution were not disclosed. Both families, including the Rzuceks, engaged in legal disputes over the policies, with Chris holding a $450, 000 life insurance policy that paid out post-murder. Before his crimes, Chris and Shanann Watts had a combined income of approximately $91, 000 in 2015, including Chris's earnings as a mechanic and Shanann's as a receptionist, alongside additional part-time work at Children’s Hospital. In 2015, they filed for Chapter 7 bankruptcy, listing over $70, 000 in debts, revealing financial struggles despite their combined income.

Upon being sentenced to life without parole for the murder of his wife and children, Chris Watts was ordered to pay $6 million in damages to Shanann's family. The verdict marks a significant outcome in a legal battle, as both families sought compensation from the life insurance policy while Chris faced mounting civil liabilities. In court, it was noted that Chris would be liable for substantial sums, including $1 million for each death plus more for emotional distress, compounded annually. Despite the financial claims, the families were unlikely to see the expected sums distributed due to ongoing legal complexities, highlighting the tragic aftermath of the Watts' horrific crimes.

Did Chris Watts Live A Dream Life?

Chris Watts appeared to lead a perfect life with his wife, Shanann, and their two daughters, Bella and Celeste. This illusion collapsed in August 2018 when Shanann and the girls went missing from their Colorado home. Reports indicate that Watts now lives a grim existence, spending 23 hours daily in lockdown. In a shocking turn of events, he confessed to murdering Shanann by strangulation and disposing of her body at an oil site, followed by the smothering of his daughters, fueled by his desire to start anew with his mistress, Nichol Kessinger.

Watts's family life was a facade; he was overwhelmed by parenting and sought to escape rather than confront the reality of his commitments. After his heinous actions came to light, he received multiple life sentences without parole. The family home, where these tragedies occurred, was later put up for auction as Watts's life spiraled into infamy. The case raises profound questions about personal responsibility and the societal elements that can lead to such extreme actions. Watts’s story serves as a tragic reminder of the dark complexities hidden behind the façade of an ideal life, showing that some individuals may not fully grasp the weight of their familial roles.

How Many Children Did Chris Watts Have?

Chris Watts, an American oil field operator, committed a horrific crime on August 13, 2018, when he murdered his pregnant wife Shanann and their two young daughters, Bella and Celeste, aged four and three, respectively. Shanann was 15 weeks pregnant at the time of her death. Initially, Watts attempted to mislead authorities regarding their disappearance, but eventually confessed to the murders, stating that he killed Shanann first in their Frederick, Colorado home before disposing of her body and subsequently murdering Bella and Celeste.

Investigations revealed inconsistencies in his story, leading to his arrest. Watts is currently serving five life sentences in prison, with no possibility of parole. As the sixth anniversary of the murders approaches, the case continues to garner attention, as family members and investigators reflect on the tragic events and the manipulative lies he told during the investigation. The case remains a painful reminder of the devastating impact of domestic violence.

Why Did Chris Watts Leave Money Untouched In Shanann'S Estate?

Chris Watts left the money in Shanann's estate untouched due to legal disputes between the families. Following the murder of Shanann and their two children, both Shanann's parents and Chris's parents contested the money, which existed as a result of the tragic events. Ultimately, the funds were handed to attorneys for distribution, but the specifics of their allocation remain private, with neither family commenting publicly. Chris Watts agreed to pay $6 million to Shanann's parents in a settlement, although it seems unlikely they will ever receive the funds due to ongoing legal complexities.

Additionally, Chris and Shanann filed for bankruptcy in June 2015, accumulating over $70, 000 in debt before the murders. Since his arrest in 2018, the home has been unoccupied and in foreclosure, exacerbating the financial challenges. Shanann's family is actively trying to ensure Chris cannot benefit financially from the situation, filing a wrongful death claim to recover funeral costs and lost future income for Shanann.

The insurance policy in question was meant to pay out upon untimely death, specifying $300, 000 for Shanann and $75, 000 for each daughter. Meanwhile, the Watts family attempted to claim the money despite Chris's ineligibility under the Slayer Statute, which prohibits murderers from profiting from their crimes.

Who Are Chris Watts Parents?

Cindy and Ronnie Watts, parents of convicted murderer Chris Watts, have publicly shared their ongoing support for their son despite the horrific crimes he committed. Chris was sentenced for the murders of his pregnant wife, Shanann, and their two daughters, Bella and Celeste, in August 2018. Even after his confession, his parents struggled to grapple with the notion that their son could commit such acts. They have appeared in interviews expressing a mix of disbelief and love for Chris, insisting they still believe in his innocence despite the evidence against him.

Cindy and Ronnie, from Spring Lake, North Carolina, have stated that they feel the pain of losing their grandchildren daily. They have also mentioned that Chris has turned to religion while serving his life sentence and has not yet watched the Netflix documentary about his case. The Watts family dynamic has been complicated, particularly due to Cindy's contentious relationship with Shanann. In their interviews, Cindy and Ronnie expressed their wish for Chris's well-being, emphasizing their belief in forgiveness as outlined in the Bible despite the tragedy that has unfolded in their family.