Volume 65, Issue 2, 551-579
Corporate-owned life insurance (“COLI”) is a form of insurance in which an employer takes újdonság out a life insurance policy on the life cheap jerseys of the one of its employees. COLI is legal under state insurable interest statutes because employers have a financial incentive in the continuation of certain “key employees.” However, in sarituri the past two decades, use of COLI has increased as large corporations have begun to insure larger percentages of their workers, even low-wage employees. This widespread practice presents many public policy concerns: corporations profit by reaping the death benefits Lorem when an employee dies and federal tax law permits the corporations to exclude the proceeds from gross income. Congress attempted to curb COLI by limiting a corporation from insuring certain types of employees, but corporations continue to insure large percentages of their employees.This Note argues that Congress should go further in eliminating COLI due to the dangerous incentives that it provides to employers in the event of an wholesale Cleveland Browns jerseys employee’s death. In the modern employment context, all employees are nh?t replaceable and private businesses should not reap federal ? tax benefits wholesale jerseys from the death of its employees. cheap nba jerseys This Note proposes changes to state insurable interest laws as well as the wholesale NBA jerseys elimination of federal tax benefits for corporations.