What Is Dead Peasant Life Insurance?
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63333 POINTSview profilePeggy MaceMost of the U.S.Dead Peasant Life Insurance is a nickname given to employer or business owned life insurance taken out on all the employees in a business, from the managers to the janitors. The death benefit is paid to the employer or business when the employee passes away, rather than to the employee's beneficiary.Answered on July 19, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaAs Peggy said this is a policy of insurance that covers all the employees of an organization with life insurance, the death benefit being payable to the company. It could be viewed as an adaptation of “key man” insurance in that it treats every employee as vital to the organization. It is true that the loss of any employee costs the business something.Answered on April 24, 2014flag this answer
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