Tuesday, October 06, 2009

'Dead Peasant' Life Insurance

So when Irma Johnson learned that her husband, Daniel, who died of brain cancer, had been insured for $1.5 million, it should have been at least a small comfort.

But she did not receive the money. His employer did.

http://www.abcnews.go.com/GMA/dead-peasant-life-insurance-policies-fair/story?id=8724327

It's one of the strangest free-market perversions that Michael Moore highlights in his latest film, "Capitalism: A Love Story."

In the corporate practice dubbed "Dead Peasants" life insurance, companies wager on employees' lives, expecting to make money when they die.

 

 

No comments:

Post a Comment