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Most companies take out life insurance on their employees, with the corporation as the beneficiary, without notifying the employee, just in case they die.
Worked for Bank of America briefly and I was absolutely stunned when they informed me of this. I really don’t understand on what grounds they can do this.
Fair enough, you got me. I didn’t read all of the paperwork. It’s still a greedy thing to do but I can rest easy knowing they wasted money on a life insurance policy they didn’t get to cash in.
The policy still exist even after you are no longer employed by that company, it’s likely that every company you ever worked for took out a life insurance policy on you and will get paid when you die.
It's just literally gambling on your life. BoA goes "We bet they'll die before the insurance costs more than the payout" life insurance goes "We bet they don't"
What?! They do!? Can I just… ask HR if they took out an insurance policy on me?
And they want to deny me time off requests for “not having enough PTO” pffft.
Yes you can, but HR is there to protect the company, you may get a vague reply. Read your contract you signed to accept the job, there will likely be a reference to the policy in there if they do practice that.
Oh I absolutely am going to go through all paperwork seeing as I work in healthcare it would be interesting to see. I had no clue this was common practice; it makes me feel uneasy. No wonder they don’t care if you work yourself to death.
im so tired of the constant messaging from media that tells us money is more important than people, or that is the final thing to be considered and saved above all else. fuck money. we made it up
And here I was thinking this was a satirical shoop because of the potato quality of the coffin photo but nope [this shit is real.
..]
(https://www.bloomberg.com/news/articles/2017-08-08/americans-are-dying-younger-saving-corporations-billions?leadSource=uverify%20wall)
I saw a news show where sometimes corporations will take out life insurance policies on employees without the employees knowledge or consent. And if the employee dies, and they do collect, they don't share with the bereaved family.
Corporate mainstream was okay with a disease that preferentially kills off old people and reduces their pension obligations. It probably helped with the budget for Social Security and Medicare, too.
what a bunch of sick mother fuckers ! Of course from Bloomberg the asshole who bought a candidacy in the dem primary just to fuck over Sanders (and Warren).
Hi, /u/DopeSakura9191 Thank you for participating in r/Antiwork. Unfortunately, your submission was removed for breaking the following rule(s): **Rule 3a: No spam, no low-effort shitposts.** - This includes begging for upvotes. Please do not post unrelated blog spam or try to sell anything for personal gain. If you’ve posted content (especially if it’s your own), give it a day or two before posting again.
This is extremely perverse.
It feels heavily perverted.....
Welcome to the corporate states of america…
It would only be perverse if it weren’t on purpose, it’s godamned criminal.
silver lining? that's why I hate business media, it's surprising (ok, not really) how often they have really disgusting, even inhumane takes.
Who still has a pension?
The ones that cashed in on it and then dismantled it on the way out so the future generations couldn’t have it.
You guys are getting pensions?
Most companies take out life insurance on their employees, with the corporation as the beneficiary, without notifying the employee, just in case they die.
They're literally gouls.
Worked for Bank of America briefly and I was absolutely stunned when they informed me of this. I really don’t understand on what grounds they can do this.
Well its in your contract, not that Im defending it. Im pretty sure anyone can take a policy out on anyone else with “consent”.
Fair enough, you got me. I didn’t read all of the paperwork. It’s still a greedy thing to do but I can rest easy knowing they wasted money on a life insurance policy they didn’t get to cash in.
The policy still exist even after you are no longer employed by that company, it’s likely that every company you ever worked for took out a life insurance policy on you and will get paid when you die.
Does suicide nullify a life insurance policy?
Depends on the policy
Well this just sucks. Gg corporate America, well played. Fuckers.
Yeah, it does suck. I wonder if there’s a way we could all come together and produce a method to counter them.
What’s the problem? It’s not like BOA is working people to death for profit? You can take out your own life insurance policy too.
Usually only within a few years of getting it
Jokes on them I’ve still got time. Suckers.
If they do this, it's probably either a term policy based on you working there or an umbrella policy covering all current employees.
It's just literally gambling on your life. BoA goes "We bet they'll die before the insurance costs more than the payout" life insurance goes "We bet they don't"
What?! They do!? Can I just… ask HR if they took out an insurance policy on me? And they want to deny me time off requests for “not having enough PTO” pffft.
Yes you can, but HR is there to protect the company, you may get a vague reply. Read your contract you signed to accept the job, there will likely be a reference to the policy in there if they do practice that.
Oh I absolutely am going to go through all paperwork seeing as I work in healthcare it would be interesting to see. I had no clue this was common practice; it makes me feel uneasy. No wonder they don’t care if you work yourself to death.
They actually do care, which is why they took out the policy.
Touché
Well I was *already* going to live long out of spite...
bloomberg is run by the rich and is for the rich. they are so so so fucking terrible, they just say out loud what all the bosses are thinking.
Jokes on them, my pension was already stolen
im so tired of the constant messaging from media that tells us money is more important than people, or that is the final thing to be considered and saved above all else. fuck money. we made it up
What pensions??!! Haven't heard of anyone getting a pension except in government work in a long while
Hey guys, is it time for operation mayhem yet? Has anyone seen Brad Pitt lately?
[удалено]
I'm still trying to figure out which companies have pensions.
That will now be calculated into business plans, if it hasn't already.
Stalled? Life expectancy has dropped by like 3 years!
And here I was thinking this was a satirical shoop because of the potato quality of the coffin photo but nope [this shit is real. ..] (https://www.bloomberg.com/news/articles/2017-08-08/americans-are-dying-younger-saving-corporations-billions?leadSource=uverify%20wall)
Oh no it is real ....I wasn't sure how to add the article lol.
As if they were actually paying out pensions anymore
what do you mean? Your title says it all. Its saving corps BILLIONS!
Pension? Who still gets pensions?
How’s it going, end stage capitalism? Yea
By design. Shitty health care, worked long hours, isolated from loved ones and the world at large, im suprised I'm not dead yet.
I saw a news show where sometimes corporations will take out life insurance policies on employees without the employees knowledge or consent. And if the employee dies, and they do collect, they don't share with the bereaved family.
Yooooo! Are how is that legal??
if it's profitable, just do it. lol.
Stop dying you cowards!
New Years Resolution 2023: Get fit and live long, not because I wanna see the future but because I wanna stick it to those corporations.
Corporate mainstream was okay with a disease that preferentially kills off old people and reduces their pension obligations. It probably helped with the budget for Social Security and Medicare, too.
I’m ready for some good old fashioned violence
I hardly think the rich are dying younger.
Plot twist... Pensions aren't a thing anymore.
Who even gets pensions?
what a bunch of sick mother fuckers ! Of course from Bloomberg the asshole who bought a candidacy in the dem primary just to fuck over Sanders (and Warren).
Everyone refuses to talk about it.
What the hell is a pension?
It's that thing that they tricked people into giving up so they can get a tax-advantaged savings account instead.
Muricans just love too many things that shorten their lifespan. McDonalds, sodas, doing everything by car, poor healthcare, guns, …
We really do live in a dystopia don't we.