A number of pre-2006 policies still exist on employees, unknown to them.
These policies pay on the death of an employee, or a former employee.
And when the “peasant” dies, the company receives a tax-free windfall.
Often the deceased has long left the workplace — moving to a different job, or retiring. Many a clerk, janitor or other line employee would likely be surprised to learn that his present or former employer will receive $100,000, $200,000 or more when he dies. – The Bakersfield Californian