If you learned that 1 of 10 people in your circle would die this year, and you could even say which person specifically was likely die - What would you do?
I learned about something disgusting last night - it turned my stomach to hear it - it made me want to howl to the rafters about the injustice in the world!
This may not be news to most of you - but it was news to me - to learn that companies purchase life insurance on their employees. At first that doesn't sound too bad - I can see insuring the CEO of a blue chip company because his death could result in the loss of millions for that company - what I can't understand is why you would insure, without their knowledge or consent, someone who works in the wal-mart bakery, someone who sweeps floors for a living, someone who is the "rank and file" employee.
Why would you do this? To make a profit,
Every year a certain number of working people will die - if you look at how many people in your nationwide company died last year - then you can use a mathmatical equation to figure out how many people will most probably die this year - you can also factor in things like social station (a janitor vs a manager) who typically leads a healthier life, what employees have health insurance, the stress of a job - and so narrow down the pool of your employees to a smaller group contianing those most likely to die.
Lets say you did all this math and you came up with a group of 50,000 employees (out of 500,000 total employees )- that would most likely die in the next year, as a responsible citizen what would you do?
Would you
A- try to help these people by providing insurance, free medical clinics, doctors and nurses to talk to to try to help this person, maybe even a few more days of vacation time to spend with their families?
B - buy a $1,500,000.00 life insurance policy on them and do nothing
What is even more sickening if the fact that many of these companies may have even contributed to the death of their employee. If your employer requires you to work longer hours, more shifts, and piles more and more responsibility on you - all the while telling you that he knows 10 people who would love to have your job (this is happening to a friend of ours) and then you die of a heart attack - did that employer knowingly contribute to your death?
What if your employer refuses to offer health insurance, and knowing that people who do not have health insurance typically don't go to the doctor as often, even when they are sick - buys an insurance policy on you. That year catch the flu - and don't go to the doctor - and you die - did they knowingly act in an irresponsible manner which contributed to your death?
Why can't I buy insurance on someone else house? Because then I would have a vested interest in that person's house burning down - it would be to my gain if they lost their home.
Which employers bought policies on the lives of employees?
Because a company’s purchase of insurance policies is not a public record, it is virtually impossible to know every company that invested in policies on employees’ lives. These policies are termed "dead peasant" policies because they insure the "rank and file" not the company executives. If your employer is on the list below - don't worry, you can ask them if they have such a policy on you - but they do not have to answer - because insurance lobbiests have persuaded our congress to make such dealings strictly confidential - especially from the peasants.
The following companies are believed to have been the beneficiary of these types of life insurance policies on employees:
ADAC Laboratories
Advanced Telecommunication Corp.
Aeroquip Vickers Inc.
Alabama Power Co.
Alfa Corp.
Allegheny Technologies Inc.
Allergan Inc.
Allfirst Financial Inc.
Amegy Bank, N.A.
American Business Products, Inc.
American Electric Power
American Express Co.
American Greetings Corp.
American Management Systems Inc.
American Seafoods Group LLC
Ameritech Corp.
Amerus Group Co.
Anadarko Petroleum Corporation
Appalachian Power Co.
Arch Chemical
Aristech Chemical Corp.
AT&T Communications
Atlantic Richfield Co.
Avery Dennison Corp
Avon Products Inc.
B. F. Goodrich Company
Ball Corporation
Bank Boston
Bank Of America
Bank One Corp.
Barnett Banks Inc.
Bassett Furniture Industries Inc.
Be Aerospace Inc.
Bear Stearns Companies
Bellsouth Corporation
Boise Cascade Corp.
Boston Company
Boston Federal
Bristol-Myers Squibb Company
Camelot Music, Inc.
Carolina Power & Light Co.
Carpenter Technology Corp.
Catskill Financial Corp.
Central Power & Light Co.
Ch2m Hill Companies Ltd.
Charming Shoppes, Inc.
Checkfree Corp.
Chemical Banking Corporation
Citibank, N.A.
Citizens Bank
Clark Inc.
Clorox Company
CNF Inc.
Coca-Cola Company
Columbus Southern Power Co.
Commercial Intertech Corp.
Compass Bank (Florida & Alabama)
Computer Technology Associates Inc.
Consolidated Natural Gas Co.
Consolidated Rail Corporation
Cox Enterprises, Inc.
CTA Inc.
Cymer Inc.
Diamond Shamrock Inc.
Diebold Inc.
Dime Bancorp Inc.
Dow Chemical
Earle M. Jorgensen Co.
Eastman Kodak Company
Eaton Corp.
ECC Capital Corp.
Enserch Corp.
F&M Bancorp
FiberMark Inc.
Figgie International Inc.
Fina Oil & Chemical Company
First Bank System Inc.
First Commonwealth
First Midwest Bancorp Inc.
Fleet Bank
FleetBoston Financial Corp.
Flightsafety International Inc.
Frontier Bank
Fulton Financial Corp.
GATX Corporation
Georgia Power Co.
GNC Corp.
Great Plains Energy Inc.
GTE Corporation
Gulf Power Co.
HCR Manor Care Inc
Hechinger Company
Heritage Commerce Corp.
Herman Miller Inc.
Hershey Foods Corporation
Hillenbrand Industries, Inc.
Hosiery Corporation of America
Houghton Mifflin
Household Finance
Hovnanian Enterprises Inc.
Hughes Supply Inc
ICI Americas, Inc.
Idaho Power Company
IKON Office Solutions Inc.
Indiana Michigan Power Co.
Integra Bank Corp.
Intermark Inc.
Iowa First Bancshares Corp.
Iroquois Bancorp Inc.
J Jill Group Inc.
JP Morgan Chase & Co.
Kansas City Power & Light
Kansas Gas & Electric Co.
Keithley Instruments Inc.
Kentucky Power Co.
Keycorp Ohio
Kimberly Clark
Korn Ferry International
Laser Master Int’l. Inc.
Linens N Things Inc.
LKQ Corp.
Louisiana Pacific Corp.
Manor Care Inc.
Marriott International Inc.
McDonnell Douglas Corp.
Media General Inc.
Medicalcontrol Inc.
Menasha Corporation
MidAmerican Energy Co.
Miix Group Inc.
Mississippi Power Co.
MNC Financial Inc.
Mueller Industries Inc.
National City Corporation
NationsBank
Nestle Enterprises
Norfolk Southern Corp.
Norfolk Southern Railway Co.
Northern States Power Co.
Ohio Power Co.
Old National
Olin Corporation
Owens & Minor Inc.
PacifiCorp
Panera Bread Co.
Panhandle Eastern Pipe Line Company
Parker Hannifin Corp.
Penn Treaty American Corp.
Penns Woods Bancorp Inc.
Phibro Animal Health Corp.
Philipp Brothers Chemicals Inc.
Phoenix Companies Inc.
Pinnacle Financial Services Inc.
Portland General Electric
Potlatch Corporation
PPG Industries
Procter & Gamble Company
PSS World Medical Inc.
Public Service Co. of New Mexico
Public Service Co. of Oklahoma
Public Service Enterprise Group
Questech Inc.
R. R. Donnelley & Sons Company
Ruddick Corp.
Ryder System Inc.
Sallie Mae (Stud Ln Mktg Assoc.)
Savannah Electric & Power Co.
Sequa Corp.
Service Merchandise Co., Inc.
Shearson Mortgage
Sherwin-Williams
Sky Chefs
Smart & Final Inc.
Smith Barney
Sonoco Products Co.
Southwest Bank
Southwest Water Co.
Southwestern Bell Corp.
Southwestern Electric Power Co.
Southwestern Public Service Co.
Star Banc Corp.
Stauffer Management Company
Steelcase Inc.
Sturgis Bancorp Inc.
Summit Bank of N.J.
Swank, Inc.
Tellabs Inc.
Tenet Healthcare Corp.
Texas Eastern Transmission Corp.
Tompkins Trustco Inc.
TXU Corp.
TYCO International
UniFirst Corp.
Union Bank
United National Bancorp
Urocor Inc.
Vineyard National Bancorp
W. R. Grace & Company
Wachovia Corporation
Walgreen Company
Wal-Mart Stores
Walt Disney
Wang’s International, Inc.
Wells Fargo, N.A.
West Coast Bancorp
West Texas Utilities Co.
Westar Energy Inc.
Western Aire Chef Inc
Western Resources, Inc.
Westpoint Pepperell
Winn Dixie
Winnebago Industries Inc.
Woolworth Corporation
Xcel Energy Inc.
York Water Co.
Zale Corp.
****The contents of this blog are the writters opinion and may or may not be based on fact. Reading this blog is for enjoyment purposes only.
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