Nova 401(k) Associates
Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
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|'Dead Peasant' Policies Pay Out To Bosses When Employees Die|
San Francisco Chronicle
Apr. 29, 2002
Excerpt: Many companies have bought corporate-owned life insurance, which is also known as 'dead peasant' or 'dead janitor' insurance. The nicknames reflect the fact that these policies are on low-ranking employees, rather than the top-ranking executives whose death could be a financial blow to the company. Oregon is one of many states that allow 'dead peasant' coverage.
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