So-called "dead peasant" policies — secret life insurance policies taken out on unwitting employees — have ignited a forest fire of litigation that won't die down. Since emerging several years ago, they have landed numerous employers in court, accused of profiting off the deaths of rank-and-file employees. More recently, the insurance industry and banks have been dragged into the legal morass, both accused of illegally benefiting off these policies, formally known as corporate-owned life insurance policies.
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'Secret' life insurance triggers suits
The National Law Journal
February 2, 2009
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