Did you know that the company that you work for can take out life insurance on you!?! Are you more important to them dead or alive?

What is “Dead Peasant” Insurance?
Dead Peasant Insurance is sometimes used as a shorthand reference for life insurance policies that insure a company’s rank-and-file employees and name the company as the beneficiary. This means that the company receives the life insurance benefits when the covered employees die. This insurance may also be called “janitor insurance,” “corporate-owned life insurance,” or “COLI.”

How does a person know if he or she is covered by a policy?
It is often difficult for a person to learn whether he or she was covered by a “Dead Peasant” policy. These insurance programs became popular during the mid-1980s and have been an available investment opportunity for large companies since that time. Prior to 2006, however, there was no federal law that required employers to disclose the policies to insured employees. Any disclosure requirements that existed before 2006 were only through state laws, which were ignored in many instances. So, the only way a person could learn about the policies was through the employer’s voluntary disclosure.

Read over this article:
http://moneycentral.msn.com/content/Insurance/P64954.asp