Dead Peasant Insurance: How to Find Out if a Policy Exists?

[Mimosa]

A friend of mine suspects that a huge company for whom he rarely works is carrying him as an employee even though he rarely works for them as an independent contractor. There have been several signs (including mandatory urine tests and sexual harassment sensitivity training in order to maintain 'contract). This poarticular worldwide corp is known for dead peasant insurance. Is there any way he can find out without asking? (As if they'd tell him)

Is there any way regular people not employed fulltime by a company can stop dead peasant insurance?

*edited for typo*

[Cleita]

1. Interesting. Maybe he should hire investigators to find out

for sure. It could just be that they are just complying with worker's comp insurance requests. Many employers do carry worker's comp for contractors, especially if they are individuals rather than corporations.

[Journeyman]

2. Read Nikolai Gogol's "Dead Souls". . .

perhaps, like the protagonist Chichikov, you may determine some means to turn such "death bets" to your advantage.

http://en.wikipedia.org/wiki/Dead_Souls

[LiberalAndProud]

3. If they bought the policy before 2006, he can ask his employer. They're not obligated to disclos

http://deadpeasantinsurance.com/
How does a person know if he or she is covered by a policy?
It is often difficult for a person to learn whether he or she was covered by a “Dead Peasant” policy. These insurance programs became popular during the mid-1980s and have been an available investment opportunity for large companies since that time. Prior to 2006, however, there was no federal law that required employers to disclose the policies to insured employees. Any disclosure requirements that existed before 2006 were only through state laws, which were ignored in many instances. So, the only way a person could learn about the policies was through the employer’s voluntary disclosure.

List of known offending companies.
http://deadpeasantinsurance.com/which-employers-bought-policies-on-the-lives-of-employees/#more-43


If they bought the policy after 2006, there are more regulations. Employees eligible for insurance are restricted and they must provide written consent.
Written Notice and Consent
Another hurdle, in addition to the eligibility provisions,
must be overcome for the policy proceeds to be tax-free.
This hurdle is a requirement for “notice and consent."
Before a policy is issued the employer must:
• Provide written notification to the insured
employee
• Provide written notice of the maximum amount
of insurance the employer might buy
• Provide written notification to the employee that
the employer or other policyholder will be the
beneficiary of death proceeds
• Obtain written consent from the employee to
allow the purchase.
http://www.euclidmanagers.com/downloads/legrev/May%202007%20Corporate%20Owned%20Life%20Ins%20Disclosure%20Requirements.pdf

[Mimosa]

5. Isn't it amazing and shocking?

Yes, his company was a pioneer on dead peasants insurance. My friend only does 'independent contractor' jobs for them 3 or 4 times a year. But the company demands participation from him as if he were a 9-5 employee. Something smells.

[Mimosa]

6. Thanks for info, Liberal and Proud

Very good info. The company is definitely on the list. My friend had to sign many pages of documents in order just to get an occasional job from one of the companies on that list. He's probably didn't read everything. He needed work so badly he would have signed anything.

[EC]

4. From what I understand they can keep the policies

going even after you're no longer an employee.