'Secret' life insurance triggers suits

Employees claim lack of consent.

, The National Law Journal

So-called "dead peasant" policies — secret life insurance policies taken out on unwitting employees — have ignited a forest fire of litigation that won't die down. Since emerging several years ago, they have landed numerous employers in court, accused of profiting off the deaths of rank-and-file employees. More recently, the insurance industry and banks have been dragged into the legal morass, both accused of illegally benefiting off these policies, formally known as corporate-owned life insurance policies.

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