Premier Plan Consultants
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Carpenter Morse Group Inc.
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|Washington State Firms Can No Longer Take Out 'Dead Peasant' Insurance on Workers|
Settle Post-Intelligencer Reporter
May 17, 2005
Excerpt: Companies statewide will no longer be allowed to secretly take out corporate life insurance policies on their rank-and-file employees under a law signed this week by Gov. Christine Gregoire. Through a practice critics call 'dead peasant insurance,' many companies, particularly large ones, had bought life insurance policies on workers without telling them. The companies then collected the death benefits, often long after the employee had retired or left the company.
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