Wrong Place, Wrong Time, Wrong Clark TOC can be found
HereThe kind of insurance Lex had on Monique Kahn is known as "Dead Peasant Insurance" (I kid you not). To protect companies from loss of income the death of an (usually) upper level employee would cause them should he/she die while employed with the company. According to
Wikipedia: "1/5 of all life insurance policies currently held in the US are COLI."
(Although, not all the benefits nowadays go directly to the employer.) Apparently, some companies used to insure all their employees with this type of insurance; this practice is frowned upon now, but still occasionally done. This would be insurance that the company would get the benefits from should the employee die, not family members. Back during this time, companies could insure their employees without informing them.
In a typical broad-based leveraged COLI transaction, a corporate employer would purchase policies on masses of lower-level employees, sometimes without the employees' knowledge or consent. When an insured employee died, the company received the death benefits, and the employee's family typically received either a small portion of the proceeds or nothing. These policies could remain in place even after the employee quits or retires.
In the 1990s, there was reform in the insurance industry which limited this practice.
Of course, if you killed your employee to get the insurance money that would also be considered fraud.
If you have never watched
“Roman Holiday”, you should. It is one of my favorite Audrey Hepburn films.
In it, the princess cuts her hair short in a manner Tank would highly approve of.
Comments welcome.
