Free life insurance!
Well I never...hallelujah!
Yessir!
The very same cheap corporations (who have paid you peanuts) are suddenly very concerned about the fate of your loved ones should you pass away.
Or are they?
Too good to be true?
Could it be a scam of some sort?
Of course, its a scam!
A scam made possibly by the now lawless society called the United States of America.
Well, lawless, that is, when it comes to our multi-million dollar corporations.
The American citizen, on the other hand, has had so many laws piled upon his head that he considers himself lucky not to wake up a criminal on any given Sunday.
But back to the free life insurance.
The life-insurance SCAM started with Walmart.
It turned out that the authorities noticed Walmart was secretly taking out life insurance policies on its own employees (perhaps this explains the mummy-like appearance of some of its personnel).
Of course, the policies were always taken out on the most sickly and the most elderly of its employees .
The whole thing sounded like a gesture of humane magnanimity until it was discovered that the SOLE BENEFICIARY was WALMART.
It turns out that the practice of corporations taking out insurance policies on its employees for corporate benefit has been going on since the 1990's (the era of massive deregulation).
These types of agreements are called 'Dead Peasant' policies (and yes, the corporations refer to them in EXACTLY those terms).
Gee, you know, I really do have a lot of old geezers living all around me in this neighborhood, I wonder if I could take out some life insurances on THEM to make me some money.
I'll go right down to my local Allstate office and...
What?
That is totally illegal?
I'll be reported to the authorities for even inquiring about such a thing?
Oh!
I forgot that I was a peasant...not one of the perfumed princes of the corporate world for which laws and regulations don't exist.
But back to the exclusive corporate practice of taking out secret life insurance policies on their employees to cash in when they die strategy.
The practice has not only been exposed...it has not only outraged the public...but it has EXPANDED into ready-made bet-on-dead-peasant kits for all corporations.
That's right, now they are ALL doing it!
And that explains the fabulous new freebie you now get when signing your salary employment contracts - FREE LIFE INSURANCE!
EVERYBODY is doing it now!
The corporations just get on board by subscribing to a readily available 'COLI' (Corporate Owned Life Insurance) policy issuer, who gets right down to insuring all the prospectively dead peasants.
It seems there is now (after all that deregulation) readily available packets offered by banks (who else?) to cheaply insure all your employees so that when they die, you hit the jackpot!
It is some sort of 'shared-risk' scheme in that all the employees are initially covered by a cheap policy, with special cases (the sickly) having their policy gradually increased.
Hey, it's Vegas betting on the sick peasants who are being worked to death!
Only now, with the law and everything, it has become legally more acceptable to have the peasant SIGN the life insurance policy himself.
Too many upper middle class salaried employees started inquiring with their lawyers whether a secret life insurance plan was even legal.
So they now ask you to sign their betting ticket.
But don't carry any illusions.
When you die, your next of kin will get a pittance (if anything).
The real pay-off comes to your employer.
So next time you are hired and are offered 'free' life insurance policy, DECLINE!
Then watch you employer's reaction go from disbelief...to forceful...as you refuse to go along with the betting game.
In fact, don't be surprised if they show you the door for refusing to cooperate with company policy.
All the peasants have to have a price on their head.
You are no longer just a worker, you are a derivative commodity.
And after all...
...there is A LOT of money at stake here...for THEM!
There are five basic types of health insurance plans and a few variations of the basics. The basic five types are: Health Maintenance Organization (HMO), Health Savings Account (HSA), Point of Service (POS), Preferred Provider Organization (PPO), and Indemnity, which is a health plan with no preferred physician and/or hospital network.
ReplyDeleteIf you want to learn more about the differents between five types of health insurances you can read the full article: http://goo.gl/K5tXCd
Thank you, Juan!
ReplyDeleteWhat about the Dead Peasant policies Walmart takes out on their elederly and sick employee so they can cash in on their deaths?
What are THESE called in the industry?