Investing in precious metals 101

Does Your Company Carry, “Dead Peasants” Life Insurance On You?

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  • Tue, Oct 06, 2009 - 10:32am

    #1
    John99

    John99

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    Does Your Company Carry, “Dead Peasants” Life Insurance On You?

To many of the ‘Torture 500’ companies, we are worth more to them dead than alive. Currently, only banks must declare these secretive, tax-deductible policies. A few bank positions of ‘Dead Peasant’ policies…..

 

Bank of America: $17.5 Billion

Wells Fargo:         $ 5.7 Billion

WaMu:                  $ 5.0 Billion

Citigroup:               $ 4.2 Billion

 

And here I thought we are called ‘sheeple’, not ‘peasants’. Disappointed! Seem to remember a few ‘peasant revolts’ from history class??????

 

ABC’s, ‘Good Morning America’  4 min. video

 

  • Wed, Oct 07, 2009 - 02:48am

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Does Your Company Carry, “Dead Peasants” Life Insurance …

Unless the company purchasing the policy was doing something to increase the potential for you to die I really see no problem with it. I know that some hobby clubs and non-profits do this. Usually it is with full knowledge of the insured. They pay all premiums AND have wait until you die.  Could be a very long wait in some cases. In the end, this practice is not much different that “key person” insurance.

Bill

  • Wed, Oct 07, 2009 - 06:41am

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Does Your Company Carry, “Dead Peasants” Life Insurance …

Well there is the ‘tax deductability’ issue. Do individual citizens enjoy this feature? In a day when government is drowning in debt, a corporation can decide these insurance contracts are a far better investment that paying taxes.

And I rather feel there is a moral issue, of having someone, something, benefiting from my death without me knowing about it, but maybe that’s just me….

  • Sun, Nov 14, 2010 - 01:05pm

    #4
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Does Your Company Carry, “Dead Peasants” Life Insurance …

Oh!! That’s right John…the company will never get sufferred from any life insurance packages (except property and  car insurance) because of TAX DEDUCTABILITIES are already offerred by the government.

  • Sun, Dec 05, 2010 - 11:00pm

    #5
    Peak Prosperity Admin

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    Re: Does Your Company Carry, “Dead Peasants” Life Insurance …

Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a designated beneficiary a sum of money upon the occurrence of the insured individual’s or individuals’ death or other event, such as terminal illness or critical illness. In return, the policy owner agrees to pay a stipulated amount (at regular intervals or in lump sums). There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. In the United States, the predominant form simply specifies a lump sum to be paid on the insured’s demise.

The value for the policyholder is derived, not from an actual claim event, rather it is the value derived from the ‘peace of mind’ experienced by the policyholder, due to the negating of adverse financial consequences caused by the death of the Life Assured.

Life Insurance Co

  • Wed, Jan 05, 2011 - 01:59pm

    #6
    Peak Prosperity Admin

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    Re: Does Your Company Carry, “Dead Peasants” Life Insurance …

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