Does your boss want you dead?

I have an insurance background, so this is particularly interesting to me. My background is in Property & Casualty, which is different from Life. But in training for licensing, we were told that people can only have insurance on something they have an insurable interest on, which means that if they don't have ownership of a car, and they insure it, the policy will not pay out to them in the event of a loss.

Now, these companies may be claiming insurable interest on the fact that these are their employees. But, in some cases the people hadn't worked for the company in years, so that doesn't make sense. This creates what is called in the insurance industry as a moral hazard. In general, insurance companies try very hard to prevent a moral hazard from occurring.

To me, this moral hazard is by far the most disturbing thing about it. I think most of us feel that if our corporate body does not wish us well, they at least don't give a rip about us. One can tell by the way a company treats its customers, what the relationship is between the bottom line and ethics.

In the case of having a lot of "peasant" insurance, what is to stop a company from creating a dangerous work environment for investment purposes? Or setting up an "accident" for that employee who just isn't cutting it anymore? It doesn't have to be obvious, if someone is allergic to peanuts, all they have to do is slip one into a person's birthday cake.

Those of you claiming that the cost would be too prohibitive must not have watched the video. The companies like Walmart, taking part in this scheme are getting tax breaks. Walmart doesn't to anything that isn't profitable.

Why is this such a surprise to so many of you people? "Key Man" insurance has been around forever. Leave it to some "lamestream media" parrot to sensationalize something that is quite common and hardly nefarious.

If you are a business owner you might want to indemnify yourself against the untimely demise of a partner. If you are a larger corporation you may want to insure against losing an employee(s) that you have spent thousands of dollars in training and whose sudden death would disrupt your continuing operations.

Companies take out life insurance policies for all the same reasons that family members do. The person or in this case entity who pays the premiums owns the policy and is the beneficiary. This is not news, people.

Corporations and globalist cabals are doing plenty of other nasty things and chicanery besides this. Insurance on principals is not one of them. Nothing to see hear folks... this way to the exit.

And by the way, no, you cannot simply take out a life insurance policy on any random stranger. Most state's insurance commissions have regulations specifying some tangible interest between the insured and the beneficary(ies).

I dont know how it is in other states, but here in Illinois you can not legally hold an insurance policy on someone without their consent. For example I can take a life insurance policy out on my fiance, but I would have to get her signature on the policy.

Up until about a year ago, I was licensed to sell life insurance in this state..... I know the regulations regarding policy well. Actually had a guy that somehow got ahold of a list of nursing home residents and wanted to buy policies on them........

another great reason to step out of this society and to create our own peaceful non greedy materialistic one, live for life not money and social status

I did not read every post in this thread.
I was was not aware that this was going on. I read in the reference article that policies on top executives is to protect the company. The insurance polices on the peasants is pure investment. That means you may very well be worth more to your employer dead.
In my field it is not un common for a co worker to get ill and die, or die a short time after retirement. I do not know if my company does this, but it would not surprise me if they do.

I don't know a Boss and neither does this enlightened 11 year old of the home schooled variety:

There is evidence truth has no 'Age'.....it Is.....

Truth appears to 'empower' another, does it not?
If you follow her eyes, she appears to be speaking extemporaniously.


I hold these truths to be self-evident.
I'm sure you understand.....

Sarah Palin is an interesting woman though personally, you don't 'need' a President, do you?

Human Natural Law is the Precident.
One instinctly is aware of this.
Few allow themself to acknowledge it.

I don't believe the child 'progeny' have been informed.


To speak of truth in the ambient Light of an Angel.



[edit on 5-2-2010 by Perseus Apex]

this was touched on in michael moores movie capitalism: a love story. i know i know, a lot of people dont like him...i was just saying that i heard about it there. i was shocked. he talks to a couple different families who've experienced this and yes, one of the employers doing this was Wal-mart. its a lot more common than you'd think.

reply to post by Nathan_Orin


20% is a big number, let's all join the crack game where you don't have to pay taxes and you can kill your employees when ever you want if you don't trust them or if you don't want to pay them, or if you want to make money out of them.

Funny how America is fighting a war against drugs, and the crack game characteristics is coming up the ladder infecting the supposed legit industries.

Good luck America!!

Soory if this has already been brought up buuuutt....

If I were in charge a a fortune 500 hundred company and took out a life insurance policy on some of my my employees, I'm sure that I would have the resources to have that employee meet with some unfortunate circumstances if you know what I mean. The possibility for fraud is just too great. I mean think about it. These guys whoud have no problem paying off a hitman who would be totally unconnected and not traceable back to the company not to mention having the Police Cheif in their back pockets anyway.

Maybe it is just the conspiracy theorist in me but this stinks to high heaven.

I always viewed life insurance as a mob protection racket.

I never thought that they might be leveraging mob protection by selling your policy as an intangiable asset to raise capital.

Interpreted to mean: "Loan us money or we kill this employee."

Meaning another hit to the made up-government statistics which affects the corporations bottom line via perception of the economy.

[edit on 5-2-2010 by In nothing we trust]

This is an old story, but the fact they've been doing it for a long time doesn't make it any less evil.

Here's a way we could get back at em. This guy is in jail RIGHT NOW on trumped up charges just for writing this....

A few months ago, I had a truly and quite literally "revolutionary" idea, and I jokingly called it "Assassination Politics": I speculated on the question of whether an organization could be set up to legally announce that it would be awarding a cash prize to somebody who correctly "predicted" the death of one of a list of violators of rights, usually either government employees, officeholders, or appointees. It could ask for anonymous contributions from the public, and individuals would be able send those contributions using digital cash. I also speculated that using modern methods of public-key encryption and anonymous "digital cash," it would be possible to make such awards in such a way so that nobody knows who is getting awarded the money, only that the award is being given. Even the organization itself would have no information that could help the authorities find the person responsible for the prediction, let alone the one who caused the death

Imagine for a moment that as ordinary citizens were watching the evening news, they see an act by a government employee or officeholder that they feel violates their rights, abuses the public's trust, or misuses the powers that they feel should be limited. A person whose actions are so abusive or improper that the citizenry shouldn't have to tolerate it. What if they could go to their computers, type in the miscreant's name, and select a dollar amount: The amount they, themselves, would be willing to pay to anyone who "predicts" that officeholder's death. That donation would be sent, encrypted and anonymously, to a central registry organization, and be totaled, with the total amount available within seconds to any interested individual. If only 0.1% of the population, or one person in a thousand, was willing to pay $1 to see some government slimeball dead, that would be, in effect, a $250,000 bounty on his head. Further, imagine that anyone considering collecting that bounty could do so with the mathematical certainty that he could not be identified, and could collect the reward without meeting, or even talking to, anybody who could later identify him. Perfect anonymity, perfect secrecy, and perfect security. And that, combined with the ease and security with which these contributions could be collected, would make being an abusive government employee an extremely risky proposition. Chances are good that nobody above the level of county commissioner would even risk staying in office.

www.outpost-of-freedom.com...

reply to post by CaptChaos


Hey, that's a great Idea. I wish I had thought of that.
There are a few people I would have liked to place "bets" on.lol.

Originally posted by djusdjus
It is likely that there are some business owners who do this thing. Some people are just evil at their core.

I highly doubt this is common practice.

It actually is quite common. We always called it "key-man insurance" and a policy for $1 million is pretty cheap. During good times, these policies are picked up on indispensable employees and are rather harmless.

Of course, I also remember my financial partner wanting to take a $2 million policy out on me as our business shut the doors. That made me quite uncomfortable.

I would start a new thread with the following information, but I'm still too new to do so.

A far more diabolical insurance scheme is gaining popularity very rapidly.

It is called a life-settlement security. Policies (usually of the elderly) are purchased by third-party bankers at a discount, pooled together, and then securitized. The end product is a bond that is then sold to individual investors. (The bonds can be sold in markets that otherwise prohibit such third-party insurance).

NOTE: The more people die, the better the rate of return on the bond.

This is a gross misalignment of public interest and financial incentive. This is an elaborate ponzi scheme (like the CDO and CDS debacle) and someone will be left holding the bag when it comes crashing down someday. I could paint a worst case picture here for you all...but I'm sure many of you are far ahead of me in that regard.

SOURCE

A real functioning government has a duty and responsibility to ban these "death bonds" IMMEDIATELY.

Say NO to Greed.

Say YES to Love.

Namaste.

Originally posted by LuFri
How do you find out who has a policy on you? What can be done to stop someone from having it?

I suppose you could go to all your current and previous employers and ask them straight... In the UK we can put in a 'data protection request' - no idea if there is an American version but essentially it forces most organisations to disclose every bit of information they hold on you (although most people never get 100% of the information for various reasons).

And I don't think you can stop any one having a policy on you... I'm pretty sure if I put my money down on the insurance company's desk to insure say your life, well that's a contract between me and the insurance company... You would have very little to do with it, apart from live or die!

reply to post by Nathan_Orin


Nathan you need to read your own signature. I'll quote it below..

There is no god.
You are not special
You lead an arbitrary existence.
GET OVER IT!

So if you see things that way for yourself - why ever post anything about anything?

Scary stuff!

Next thing, your employer will force you to get got knows what vaccines under the pretense of "Occupational Health & Safety". And if you die from one of them, they cash in.

Who said pigs weren't smart?

Originally posted by tyranny22
They should let everybody do this.

I'm sure I could pick a few random strangers and "get lucky" after several years.

It's like playing the lottery!

AWESOME!

i'm with you.

in fact, if everyone took out policies on each other, it would end up being something like some grand highlander version of russian roulette.

imagine the potential! they could make a reality show out of it too. you'd be watching t.v. and see your buddy in a car accident, then the camera zooms in on your own surprised face as you realize you've gained a million dollars and are one step closer to being the ultimate winner!

Originally posted by daggyz
reply to post by Nathan_Orin

 

Nathan you need to read your own signature. I'll quote it below..

There is no god.
You are not special
You lead an arbitrary existence.
GET OVER IT!

So if you see things that way for yourself - why ever post anything about anything?

because i'm egotistical and hypocritical, of course.

yeah my boss took out 1413.45 out of my checks this year he says it's the benefits package i signed up for. Funny thing is, is that my dad who's been taxes for 30 yrs., has a Master's in Fincance has never seen this before nor is able to find the code for it to do my W-2, the franchise tax board doesn't have it as a code either. When he was getting defensive with me saying, "anyone who knows taxes should know this, insulting my dad and the tax board", i knew right then and there that he stole the money, or signed me up to something i did not authorize. I'm still unable to get a hold of our accounting/payroll/benefits dept. called them 5-6 times, left them my number and they won't call me back. Plus, the company that merged with them were stealing 40-50 dollars per check from all the lower level employees, my co-worker's sister did his taxes along with a few other employees taxes and she found out that they stole the money. He threatheneed to sue, and report it to the House Owner's Association so they'd lose the account. The company didn't want it to go public that they were stealing from employees, so they cut them checks for the money absconded.