Key employee insurance for employers is nothing new - can’t they find something else to complain about?? I know...it’s Walmart!
If you ask me that is a disgusting practice and Wallmart should be ashamed of itself, honestly, trying to get a tax break of the death of others? I’m beginning to see why everybody hates them.
This is not key man insurance. This is what the industry calls Janitor Insurance.
How would it make you feel to know that the company that controls the quality of your health care coverage and workplace safety also has a financial interest in your premature death?
Key employee insurance for employers is nothing new - can’t they find something else to complain about?? I know...it’s Walmart!
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This isn’t key man coverage ,, I have no problem with that ,,, this is an illegal tax dodge ... they know statistically how many employees are going to die in a year , they know what their corp tax rate is ... they buy policies on everyone , stockboys , cashiers and such at a cost of lets say $500,000,000 and collect $480,000,000 in death benefits ,, this reduces their taxable profits by half a billion and costs them only $20,000,000 ...
More leftists depending on the ignorance of the public to see a scandal where there isn’t one.
And no one in the media (except the alternative media) will ever call them on it.
True, but Great Wall Mart has no insurable interest in employee working minimal wage. They can find replacement worker in no time.
Employer can insure key employees to offset business loss if they die. (e.g. the owner of busy car body ahop can insure workers skilled in fixing rare and expensive cars because his business will suffer until he finds equally qualified replacement) This is obviously not the case here, thus this insurance is illegal, bordering on fraud.
I wonder if The Great Wall Mart will be the first to sell SoylentGreen (R)
Exactly. Companies routinely do this to cover expenses replacing the worker. I don't see any ethical problems here...
However, “Key-employees” usually know that they are insured by the company. This smacks of Hitlery redirecting the money to her “benevolent” benefit.
If insuring people without their knowledge and consent is such a good thing, then states should buy insurance on plane loads of people and sell the premiums as lottery tickets. Or hadn’t you noticed that they no longer sell those insure anybody policies at vending machines in airports.
Key employees know that they are insured by the company and give their consent.