Loading ...In perhaps one of the most creepy moves performed by a company in recent years, Wal-Mart is currently facing lawsuits for it’s practice of taking out life insurance policies on its employees without telling them. Supposedly the purpose was to obtain tax breaks, but with about 350,000 employees secretly insured and potentially thousands to be made on any deaths, it’s just plain creepy thinking that basically, Wal-Mart is betting against the lives of its own employees.
Ok, so Wal-Mart probably isn’t hoping all their employees die so that they can collect some insurance money, but it’s still incredibly sick in my opinion. I’d also think that they’d be losing a lot of money since that’s how insurance works. When everything is averaged out among a lot of cases, insurance benefits the insurance companies, not those buying the insurance.
As such, I guess the tax benefits outweigh those costs. That is, unless Wal-Mart execs know something about the mortality rate of Wal-Mart employees that the rest of us don’t.
File that under Wal-Mart slowly poisoning it’s employees.
Tags: Wal-Mart, employee life insurance
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