AEG -- MJ Concert Insurance Covered Overdose

Posted Jul 3rd 2009 11:30AM by TMZ Staff

AEG took out a hefty insurance policy in case Michael Jackson's 50 London concerts fell through -- turns out the policy covered an MJ overdose.

AEG's chief executive Randy Phillips said the $17.5 million insurance policy from Lloyd's of London didn't cover a death from natural causes.

Phillips said the policy would still fall short of the money spent on Jackson's advance, producing the show, covering some of MJ's debts and paying his staff and rent -- which cost between $25 and $30 million.

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