Charlotte, NC, Business Giants could benefit from insurance on the lives of workers
Some of the biggest companies Charlotte’s - Bank of America Corp., Wachovia Corp. and Duke Energy Corp. included - Update reap benefits from life insurance purchased on current and former employees.
In some cases, politics can not buy without workers or family members never know.
Own of life insurance companies, is known in the jargon of the industry coli, has exploded in popularity, given that some of the nations biggest companies investment tools and a possibility of lowering taxes Federal advisers saying.
If workers who die by politics - in some cases, years after the withdrawal of one of the employers - which will allow businesses, hundreds of thousands of dollars in Tax-free income, the money goes directly to their bottom lines. Survivors of deceased workers receive nothing.
Employers are not required workers coli.
Charlotte Some of the largest businesses have said they have all workers, politics, but went to say how they workers. Most of these companies have indicated that they cover only senior officers and leaders.
The use of coli-outcries policy human rights activists and organizations invited to require disclosure federal legislation.
Stuart Gilman, president of the Ethics Committee Resource Center, a nonprofit group in Washington, said the policy enables companies to take advantage of their employees “- and ex-workers” - death.
“I think that’s the nature of corporate governance operating - gambling on workers’ lives,” said Gilman.
Employers of life insurance purchased is not new. Companies have long bought policies to cover the life of the best leaders.
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