Companies taking out Insurance Policies

[GTO Man]

What do you think of Companies taking out life insurance policies on their employees? And not telling them about it?

Topic

[Anonymous]

Well, it has been going on forever … only it used to be called “Key Man Insurance”… the idea was to give the company some compensation for the loss of one of its key players. However, it seems to have been abused and gotten totally out of control. I say … restrict it in some way to the key players and make sure that the estate of the individual also benefits from it. For sure, the insured employee has to be aware of it.

[moparkid25]

Washbush wrote:

Quote:

Well, it has been going on forever … only it used to be called “Key Man Insurance”… the idea was to give the company some compensation for the loss of one of its key players. However, it seems to have been abused and gotten totally out of control. I say … restrict it in some way to the key players and make sure that the estate of the individual also benefits from it. For sure, the insured employee has to be aware of it.

+1, as long as the company pays the premium and the beneficiary gets the payment.

[Author]

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