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  1. #1
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    Default Your company wants you to die?

    Yikes, American capitalism at it's finest. WTF? Shocking, but apparently it's kind of common for employers to have what they call "dead peasant" policies on their workers without the workers or their families having any knowledge of said policies or receiving any of the benefits. Scary.

    Does your boss want you dead? - MSN Money

    Executives benefit from works' demise / 'Dead peasant' policies pay out to bosses when employees die - SFGate
    Quote Originally Posted by whatever View Post
    watch where you're driving f$cktards! I have the right of way!!! :steam:

  2. #2
    Senior Member Lateralus's Avatar
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    This has nothing to do with capitalism.

    Those sorts of policies should be illegal.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  3. #3
    Oberon
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    Quote Originally Posted by Lateralus View Post
    This has nothing to do with capitalism.

    Those sorts of policies should be illegal.
    Why?

    The untimely death of a skilled employee represents a significant material loss to a company. Why should the company not be allowed to insure against this loss?

  4. #4
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    Quote Originally Posted by Lateralus View Post
    This has nothing to do with capitalism.

    Those sorts of policies should be illegal.
    nonsense, that's how we roll in the USA. This is capitalism at it's core - or at least as our legislators intend it to be. Hence the lack of legislation against it.

    Your employer can "capitalize" on your death... it's totally allowed. You can't take a policy out on me and I can't take a policy out on you - unless of course one of us hires the other - then it's totally cool.
    Quote Originally Posted by whatever View Post
    watch where you're driving f$cktards! I have the right of way!!! :steam:

  5. #5
    ^He pronks, too! Magic Poriferan's Avatar
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    Time for the corporate ass kissers to come out of the woodwork again.
    Last edited by Magic Poriferan; 07-08-2010 at 03:01 PM. Reason: unnecessary comma
    Go to sleep, iguana.


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  6. #6
    Oberon
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    Quote Originally Posted by Magic Poriferan View Post
    Time for the corporate ass kissers to come out of the woodwork again.
    Would you say I fall into that category, Magic?

  7. #7
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    Quote Originally Posted by oberon View Post
    Why?

    The untimely death of a skilled employee represents a significant material loss to a company. Why should the company not be allowed to insure against this loss?
    It's only an issue when the top officers in your company have access to your health insurance information and start consulting with your health insurance company about what they will and will not chose to cover should you become extremely ill etc... Or maybe they've got a bunch of factory workers and they don't feel like instituting more stringent safety measures - the current measures aren't technically illegal (but they could be safer)... still safer costs money - so where is the harm in just waiting to see what happens? Unethical, sure... illegal, nope...

    So by getting creative it's not that hard to see how employers could also have what one could consider a vested interest in your demise... which makes them taking out life insurance policies on you.. well kind of scary... moreover Walmart seemed most interested in random hourly employees - not exactly what one would consider critical to the workforce...
    Quote Originally Posted by whatever View Post
    watch where you're driving f$cktards! I have the right of way!!! :steam:

  8. #8
    Oberon
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    Quote Originally Posted by spin-1/2-nuclei View Post
    It's only an issue when the top officers in your company have access to your health insurance information and start consulting with your health insurance company about what they will and will not chose to cover should you become extremely ill etc... Or maybe they've got a bunch of factory workers and they don't feel like instituting more stringent safety measures - the current measures aren't technically illegal (but they could be safer)... still safer costs money - so where is the harm in just waiting to see what happens? Unethical, sure... illegal, nope...
    Maybe not strictly illegal, but certainly bad business. I work in industry, and I can tell you for certain that unless a company has insured me for more than a million dollars (and that's highly doubtful), there is no way that my employer could be certain that the insurance payout would cover the OSHA fines and family lawsuit, let alone replace the cost of replacing my training and experience.

    I'm going to go ask our corporate safety officer now about the costs of an on-the-job fatality...

  9. #9
    reborn PeaceBaby's Avatar
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    NOTE:

    COLI reform has been underway for some time:

    Pension Bill Passes Senate With Coli "Best Practices" | NAIFA News Releases

    Firms are now required to:

    Limit coverage to directors and “highly-compensated employees” -- those in the top 35 percent by compensation.
    Require employers to obtain the informed consent of any employee before enrolling him or her in a COLI plan.
    Require employers to report information about their COLI plans to the Internal Revenue Service.
    Companies used to use it as a fine way to avoid paying taxes.

    That is all.
    "Remember always that you not only have the right to be an individual, you have an obligation to be one."
    Eleanor Roosevelt


    "When people see some things as beautiful,
    other things become ugly.
    When people see some things as good,
    other things become bad."
    Lao Tzu, Tao Te Ching

  10. #10
    it's tea time! Walking Tourist's Avatar
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    If your company wants you to die, maybe it's time for you to change jobs!!!!
    I'm a little teapot, short and stout. Here is my handle and here is my spout. Every time I steam up, I give a shout. Just tip me over and pour me out.

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