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

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John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
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

 

Bill85's picture
Bill85
Status: Member (Offline)
Joined: Sep 7 2008
Posts: 13
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

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
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....

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