Employment Life Insurance

[wwbb40]

What is the name of your state? VA

I am going to retire from my job and want to know how I can get off the life policy that my employer took out on me where he is the beneficiary. He said he wants to keep paying the premium even after I retire, probably because of my age he thinks he might be able to collect soon.

 

[I AM ALWAYS LIABLE]

What is the name of your state? VA

I am going to retire from my job and want to know how I can get off the life policy that my employer took out on me where he is the beneficiary. He said he wants to keep paying the premium even after I retire, probably because of my age he thinks he might be able to collect soon.

My response:

I'm failing to see, or understand, what it would matter to you when the worms, maggots, and bacteria are eating away at the flesh of your lifeless body?

Who cares, and why would you care, if someone has a policy on your life?

IAAL

 

[wwbb40]

Because my boss is an ******* and I don't want him profiting!

 

[I AM ALWAYS LIABLE]

Because my boss is an ******* and I don't want him profiting!

My response:

SO WHAT!!

Who cares? Certainly, after you're "gone", are YOU going to care?

IAAL

 

[HomeGuru]

IAAL, if this is some form of keyman insurance would not the policy be cancelled upon termination or retirement of the insured? If not, could not the insured terminate the policy either via a voluntary basis or by default of the terms and conditions of the policy ie. taking up chain smoking, joining a hang gliders club, participating in stock car races on the weekends etc.?

 

[I AM ALWAYS LIABLE]

IAAL, if this is some form of keyman insurance would not the policy be cancelled upon termination or retirement of the insured? If not, could not the insured terminate the policy either via a voluntary basis or by default of the terms and conditions of the policy ie. taking up chain smoking, joining a hang gliders club, participating in stock car races on the weekends etc.?

==================================

My response:

If it were "key person" insurance, you'd be correct and the insurance company would want proof of employment and "key person" status at the time of death in order to pay the benefits of the insurance.

However, our writer never mentioned that this was the case.

IAAL

 

[cbg]

Keyman or not, it is rare for ANY kind of employment life insurance to remain in effect after the end of the employment.