Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Plan Compliance Analyst (Administrator)


RPA logo

Education Consultant

(Remote / Putnam Valley NY)

Pentegra logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

<< Previous news item   |   Next news item >>

Text of Fifth Circuit Case Finding Wal-Mart Had No 'Insurable Interest' in COLI Policies (PDF)
U.S. Court of Appeals for the Fifth CircuitLink to more items from this source
Feb. 2, 2004

23 pages. Excerpt: We hold that: 1) Texas law, which requires an 'insurable interest' for valid life insurance policies, governs the dispute; 2) an employer has no insurable interest in an ordinary employee under Texas law; ... Wal-Mart acted in pursuit of tax benefits related to the deductibility of premium payments ... After Congress and the IRS eliminated the tax advantages of Wal-Mart's COLI program, Wal-Mart unwound the otherwise unprofitable program ...

Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).
An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).
© 2022, Inc.