Does your company invest in “dead peasant” life insurance?
Buying life insurance for top executives — key man policies — is standard practice in Big Business. But some companies also purchase life insurance on blue collar workers — sometimes without the workers knowledge.
“Since gaining popularity in the 1980s, companies have been taking out Corporate Owned Life Insurance policies on employees and listing themselves as the beneficiary. Many workers go about their workday with no clue that such policies exist and that their company has placed a bet on their timely (at least from an actuarial standpoint) death,” Joe Mont writes in a piece for The Street, a financial media website.
Talk about creepy. Here’s the full story. Very interesting reading.
Several reports in the last few weeks indicate the credit crunch may be easing. Banks may be making loans again after too many months of sitting on their vaults.
For way too long creditworthy small businesses have had a difficult time getting the financing they need to grow and create jobs.
If reports of an easing credit crunch are true, it’s about time. Now, if we can convice the big business to start spending some of the record profits they’ve been hoarding, we might see a real dent in the jobless rate.