Corporate Ownership of Life Insurance - COLI
Categories: Insurance, Company Management
Kind of a dark thing to think about, but the company you work for can actually take out life insurance on you. If you die, the benefits of the policy are paid to your employer.
The thought here is that, if an employee (well, an important one) dies unexpectedly, the company is going to incur some costs from not having them around anymore and the life insurance will help. If it helps take the sting out, we're sure they'll mention you at the Christmas party.