Community | October 05, 2009 | 74 comments

ABC News 'stunned' to discover dead peasant insurance

source: http://www.dailykos.com/storyonly/2009/10/3/789259/-ABC-News-Stunned-To-Discover-Dead-Peasan...

Vierotchka
Michael Moore's Capitalism, A Love Story has revealed a deep dark secret to the intrepid reporters of ABC News - so-called Dead Peasant Insurance, the practice of companies taking out secret life insurance policies on their low-level employees, with the benefits paid out to the company upon the employee's death, even if they no longer work at the company.

* * * * * * *

How would you like it if, when you die, your family gets nothing but your employer gets millions?
  1. groups:
    Community,   Progressive America,   Humanism,   Human Rights,   4 more
  2. tags:
    Capitalism,  Michael Moore,  Creepy,  Exploitation,  7 more
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74 comments // ABC News 'stunned' to discover dead peasant insurance // Video

  • MotherForTruth
    • +1
      MotherForTruth  

    • There are thousands of "hidden" laws and regulations that harm "the people". There are laws that prevent "the people" to change bad laws! Where are we going? “We the people” have NO power!

    • 2 years ago
  • hammywill
    • 0
      hammywill  
    • MotherForTruth:

      There is always Jury Nullification. If we shirk our duties as jurors, we have no one to blame but ourselves. If a person were to be prosecuted under an "unjust" law, all you need do is find the person "Not Guilty" regardless of whether or not the person is guilty under the "law" or not.

    • 2 years ago
  • MotherForTruth
  • dariusvons
    • 0
      dariusvons  
    • hammywill:

      sadly anybody who even knows what jury nullification is, or even doesn't know, but has the understanding that 'not guilty' by jury is all that's needed... are screened out of juries. effectively nullifying jury nullification.

    • 2 years ago
  • hammywill
  • Brendan_M
  • csmonut
    • 0
      csmonut  

    • The part that makes this so outrageous is the fact that not only are some of these corporations getting bailouts from us, the taxpayers, they are using us in another way to make their "bottom line" profits.
      Another corporate stink bomb that gets dropped on the public.

    • 2 years ago
  • TheBigBeefy
  • PeteSchmidt
  • MotherForTruth
  • pennyharford
  • vladbox
  • hunzedog
  • MoonLoon
    • 0
      MoonLoon  

    • I cannot comment of the life insurance issue, however, my company has had "kidnap insurance", on me for several years without my knowledge ( I am in a high risk area for expat kidnappings). I only found out about it through an administrative glitch. I suspect the life insurance issue is more common than known!

    • 2 years ago
  • Betico
  • rickm8
  • Cargmac
    • 0
      Cargmac  

    • And I always thought they were feeding us a line of BS when they said,

      " Our employees are our #1 Asset!!"

      Now I see the light.

    • 2 years ago
  • J_Jammer
  • magic6435
  • meowsk
    • 0
      meowsk  

    • Not new news at all. But the point is that it is in the press now. Companies don't have as much control over what information gets out about them anymore. Use the Internet to your advantage to make it more widely known so people can stand up
      for themselves.

    • 2 years ago
  • magic6435
    • 0
      magic6435  

    • I always love it when people pretend they did not know this was going on. God i hate news stations. amy goodman did a story on this type of thing a loooong time ago.

    • 2 years ago
  • vicgal
    • 0
      vicgal  

    • this is not a new concept. it is a widespread investment venture that is a well known and accepted business venture for many laymen as well...

    • 2 years ago
  • carmalite
    • 0
      carmalite  

    • ABC thanks for covering Michael Moore's investigative reporting that the news agency should have done instead, years and years ago.

    • 2 years ago
  • meowsk
    • 0
      meowsk  

    • If you disagree with companies doing this and live in Texas I wouldn't recommend banking here... http://www.amegybank.com/

      They have been known to do this to their employees. Not sure what other companies ado this but as part of the American public I say we out and then boycott them.

    • 2 years ago
  • dariustwin
    • 0
      dariustwin  

    • Ya know, this isn't that hard to believe. So long as someone (a legal someone including corporations) can prove insurable interest, they can take out a policy on somebody on you to pay for your loss. An employee of a corporation is one such person.

      It's on the individual to invest in your own life insurance policy. And yes, once the policy is in effect, no matter if you are no longer an employee later down the line, they can make money back on you after you die. I don't understand the outrage here.

    • 2 years ago
  • MoonLoon
    • 0
      MoonLoon  
    • dariustwin:

      You are correct, Darius, insuring a financial interest in an employee is little different from insuring your home or auto. I would only object if the employer was aware of a hidden danger in the workplace not known by the actuaries, that would result in a higher death rate than expected. I would also expect that the voluntary group life insurance be offered at the same rate to employees, that is made available to the employer for insuring the employees lives. There does seem to be a conflict of interest when considering that workplace safety is the responsibilty of the beneficiary of the policy.

    • 2 years ago
  • hammywill
  • MoonLoon
  • eldamon
  • J_Jammer
  • btucker
  • bombastinator
  • larrysnotes
  • carmalite
  • larrysnotes
  • MoonLoon
  • MornRail
    • 0
      MornRail  

    • Sometimes I can't stand Michael Moore and how he does his documentaries but I have to admit that at times he brings a few things to the surface. The worse part about it though, is that for the most part, some of these things are morally wrong. But against the law? Not so much.

      How, as a people and a government, are we going to call out these businesses and tell companies that they simply cannot do this? I have yet to see this movie but I hope in conjures up something in people to not be taken advantage of anymore and not settle for this.

    • 2 years ago
  • bailey78
  • hunzedog
  • bailey78
    • 0
      bailey78  
    • bailey78:

      What you don't have a job? How dare you say you don't have a job. I thought you were the Qualaty control manager for the cannabis supplers. Thats all I'm doing right now. It's a rough job but someone has to do it.

    • 2 years ago
  • rodstradamus
  • WakeUpPeople
    • 0
      WakeUpPeople  
    • rodstradamus:

      A little misleading there Rodsrtadamus. Wall Street is able to do this now. Health Care Reform will not enable this behavior on Wall Street as you imply. Re-read your article. There is no mention of waiting for reform.

    • 2 years ago
  • hunzedog
    • 0
      hunzedog  

    • you still want to trust these people with your healthcare ?
      they will make you buy mandatory life insurance and then cash the check when they let/make you die.....!

    • 2 years ago
  • WakeUpPeople
  • Mark701
    • 0
      Mark701  

    • This my friends is American capitalism distilled down to it's crudest, lowest denominator. To them, their dead employees are an insurance payoff and a tax break. No compassion, no sympathy, no concern that the family might need some help, just a quick convienient payout that shores up the bottom line for investors. To state that this is a souless, heartless practice is an understatement.

    • 2 years ago
  • Jjjjason7
    • 0
      Jjjjason7  

    • A friend of mine once told me of a scheme to get rich by taking out life insurance policy's on every heroin addict he knew. I though he was full of it and it wasnt right and he could never do it. I guess in a way he was right.

    • 2 years ago
  • samthesixth
  • Mark701
    • 0
      Mark701  
    • samthesixth:

      What does your comment have to do with the subject matter?? What you're speaking about is an adminstrative boondoggle. Dead Peasant insurance is about corporations deliberately taking out life insurance policies on their employees without their explicit permission. Those are two completely different animals.

    • 2 years ago
  • crob80227
    • 0
      crob80227  
    • samthesixth:

      Good Lord. Another moron who think that people are getting $50,000 checks from welfare.

      (eye roll)

      Please list their names and addresses.

      oh wait. You cna't because it's all made up bullshit dating all the way back to Ronald Regan talking about an infamous "Welfare Queen" who owned 6 Caddy's because of welfare fraud.

      Turns out Regan actually LIED his ass off.

      There was no such person.

      He eventually admited he was "mistaken" when he made those comments.

      Typical GOP bullshit.

    • 2 years ago
  • samthesixth
    • 0
      samthesixth  
    • samthesixth:

      Mark,

      I am talking about what ABC chooses to report or be stunned by.

      Crob,

      I am not a Republican or a moron. Your knee jerk response indicates your preferences. One dead person who kept receiving checks for 22 months after he died was my grandfather in Alexandria, Virginia.

    • 2 years ago
  • samthesixth
    • 0
      samthesixth  

    • ABC is stunned by Micahel Moore's revelations? Why are they not stunned by ACORN, SEIU, the NAMBLA supporting czar, the tax cheats running the economy, Rangel's corruption, Van Jones, Jeff Jones, the carbon footprint set by Obama to lobby for the Olympics, the lobbyists like Daschle that control this White House, the horrendous situation in Afghanistan, Iran, etc etc. Oh sorry I forgot they were partisan cheerleaders for Obama to include an infomercial from the White House on health care.

    • 2 years ago
  • Cicada_Song
    • 0
      Cicada_Song  
    • samthesixth:

      oh so I guess this shouldn't be talked about? or it isn't that big of a deal? ACORN is stupid and not that big of a deal. Iran and Afghanistan? Bush did that. If Michael Moore's a cheerleader, for the left. You're a groupie for the right. You just don't get it. Obama is the President, he loves America and fights everyday to make it a better place, its his job. He swore to do it. and you people hate him for it. Republicans don't care about America, just money. Fuck off

    • 2 years ago
  • hunzedog
  • eldamon
    • 0
      eldamon  
    • samthesixth:

      Even if half of what you're spewing were true, outside of your own mind, how does it offset the facts of THIS article? What is it about wing-nuts that makes them think a string of delusions repeated long enough will become fact and excuse any wrong doing on the part of someone or something they fanatically support?

      What are you feeling on the topic at hand?

    • 2 years ago
  • neocongo
    • 0
      neocongo  
    • samthesixth:

      Like Fox, Samthe666 is not here to have an opinion on a current event, or to add information to a discussion. He is here to advance the extreme right agenda of smearing the president. It is the agenda of a leaderless party of "no."

    • 2 years ago
  • neocongo
  • hammywill
  • samthesixth
    • 0
      samthesixth  
    • samthesixth:

      Hammy,

      I find it ironic that ABC is surprised by this corporate malfeasance but ignores other corporate or big money malfeasance, hence my comment. I find the same irony when FOX limits it's bashing to Dems and ignores Repubs.

      Neo,

      Your ignorance and party loyalty are always on display. At least you don't change even when confronted with facts. Partisan to the end.

      Cicada,

      ACORN is a big deal as it is a taxpayer boondoggle. Iraq and Afghanistan were Bush's wars, now they are Obama's. Has he pulled out? Has he increased troops in either place? Has he done anything but carry on the policy of Bush in those two places? The change is only in your head. The truth will set you free.

      I am amazed that so many took offense at my pointing out what ABC chooses to cover, or not.........

    • 2 years ago
  • hammywill
  • samthesixth
  • samthesixth
  • WakeUpPeople
    • 0
      WakeUpPeople  

    • Have you ever felt more like a pawn in someone else's chess game? Corporations are making money off of our very lives and deaths. Let's hope the company doesn't need an extra boost in quaterly profits.. you might find yourself in an accident.

    • 2 years ago
  • sk0j0
  • Remyra_Johnson
    • 0
      Remyra_Johnson  

    • You kno this is amazin to kno.....Keep exposing the truth it might set us free in this time of reccession...duces I'm totally aginst this.....wat a way the ripped the american dream from hard workin americans......

    • 2 years ago
  • Maeveeo
    • 0
      Maeveeo  

    • Now i can trust this cause its on ABC 7 & not FOX
      cause they are so into attacking our President ,
      Thanks ABC 7 for getting the truth about things that really matter , my hats off to you guys & gals at ABC !

    • 2 years ago
  • HowdyDo
  • spacemikey
  • Conniepae
    • 0
      Conniepae  

    • What would it take for shame? This is shameful, but I doubt anyone follows up and shames the shameful. To date, those who have the most wins. Corporations have more money than the peasants, so chances are they will win again. MSM will do the 'nothing to see here, move along' and we will. Shameful!

    • 2 years ago
  • Progresshiv
  • pjacobs51
  • Vierotchka
  • bailey78
  • remanns
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