Dead Peasant Insurance

What Class War, Peasants?

When Dead Peasants =
Profits for their Employers:

By Dave Fehling

KHOU

Big corporations, including banks and convenience store chains in Houston, have taken out life insurance policies on their employees and received hundreds of thousands of dollars when a worker died.

The policies have become known as "dead peasant" policies, because they are taken out on low-level employees.

"It is a profit center for their business," said Scott Clearman, a Houston lawyer who has represented the families of local convenience store clerks killed on the job.

You would think it would be illegal for anyone to take out an insurance policy on your life without you knowing about it. MSN Money has previously reported on this, as well: