Business and Banks that We Have reason to believe own Business or Bank-Owned Life Insurance on their employees.
Many large employers have reaped substantial profits by insuring the lives of their employees without their knowledge or that of their families. When a covered employee dies, the proceeds from these policies do not go to the employees’ families; rather, the employer receives the insurance benefits. An attorney representing Hartford Life Insurance Company told a federal court that in his estimation, one-fourth of all Fortune 500 companies have policies on their employees. That equals millions of workers.
Insurers, brokers and employers commonly refer to these types of policies as “dead peasant” or “dead janitor” policies because they usually insure the lives of rank and file employees. These policies are also called “business-owned life insurance,” or “BOLI” for short. Many states do not allow employers to insure their employees' lives. Yet, many employers ignore these laws and purchase BOLI in the hopes that the estates and families of their deceased employees will never discover the practice.
Scott Clearman has over a decade of experience representing the families of loved ones that were covered by BOLI policies.
Below is a list of employers we have reason to believe purchased BOLI policies on their employees. Please consider contacting us if you believe an employer may have insured the life of one of your deceased family members.
Advanced Telecommunication Corp. Aeroquip Vickers Inc. Alabama Power Co. Alfa Corp. Allegheny Technologies Inc. Allergan Inc. Allfirst Financial Inc. American Business Products, Inc. American Electric Power American Express Co. American Greetings Corp. American Management Systems Inc. American Seafoods Group LLC Ameritech Corp. Amerus Group Co. Anadarko Petroleum Corporation Appalachian Power Co. Arch Chemical Aristech Chemical Corp. AT&T Communications Atlantic Richfield Co. Avery Dennison Corp Avon Products Inc. B. F. Goodrich Company Ball Corporation Bank Boston Bank Of America Bank One Corp. Barnett Banks Inc. Bassett Furniture Industries Inc. Be Aerospace Inc. Bear Stearns Companies Bellsouth Corporation Boise Cascade Corp. Boston Company Boston Federal Bristol-Myers Squibb Company Camelot Music, Inc. Carolina Power & Light Co. Carpenter Technology Corp. Catskill Financial Corp. Central Power & Light Co. Ch2m Hill Companies Ltd. Charming Shoppes, Inc. Checkfree Corp. Chemical Banking Corporation Citizens Bank Clark Inc. Clorox Company CNF Inc. Coca-Cola Company Columbus Southern Power Co. Commercial Intertech Corp. Compass Bank (Florida & Alabama) Computer Technology Associates Inc. Consolidated Natural Gas Co. Consolidated Rail Corporation Cox Enterprises, Inc. CTA Inc. Cymer Inc. DAC Laboratories Diamond Shamrock Inc. Diebold Inc. Dime Bancorp Inc. Dow Chemical Earle M. Jorgensen Co. Eastman Kodak Company Eaton Corp. ECC Capital Corp. Enserch Corp. F&M Bancorp FiberMark Inc. Figgie International Inc. Fina Oil & Chemical Company Financial Institutions, Inc. First Bank System Inc. First Commonwealth First Midwest Bancorp Inc. Fleet Bank FleetBoston Financial Corp. Flightsafety International Inc. Frontier Bank Fulton Financial Corp.GATX Corporation Georgia Power Co. GNC Corp. Great Plains Energy Inc. GTE Corporation Gulf Power Co. HCR Manor Care Inc Hechinger Company Heritage Commerce Corp. Herman Miller Inc. Hershey Foods Corporation Hillenbrand Industries, Inc. Hosiery Corporation of America Houghton Mifflin Household Finance Hovnanian Enterprises Inc. Hughes Supply Inc. ICI Americas, Inc. Idaho Power Company IKON Office Solutions Inc. Indiana Michigan Power Co. Integra Bank Corp. Intermark Inc. Iowa First Bancshares Corp. Iroquois Bancorp Inc. J Jill Group Inc. JP Morgan Chase & Co.
Kansas City Power & Light Kansas Gas & Electric Co. Keithley Instruments Inc. Kentucky Power Co. Keycorp Ohio Kimberly Clark Korn Ferry International Laser Master Int’l. Inc. Linens N Things Inc. LKQ Corp. Louisiana Pacific Corp. Manor Care Inc. Marriott International Inc. McDonnell Douglas Corp. Media General Inc. Medicalcontrol Inc. Menasha Corporation MidAmerican Energy Co. Miix Group Inc. Mississippi Power Co. MNC Financial Inc. Mueller Industries Inc. National City Corporation NationsBank Nestle Enterprises Norfolk Southern Corp. Norfolk Southern Railway Co. Northern States Power Co. Ohio Power Co. Old National Olin Corporation Owens & Minor Inc. PacifiCorp Panera Bread Co. Panhandle Eastern Pipe Line Company Parker Hannifin Corp. Penn Treaty American Corp. Penns Woods Bancorp Inc. Phibro Animal Health Corp. Philipp Brothers Chemicals Inc. Phoenix Companies Inc. Pinnacle Financial Services Inc. Portland General ElectricPotlatch Corporation PPG Industries Procter & Gamble Company PSS World Medical Inc. Public Service Co. of New Mexico Public Service Co. of Oklahoma Public Service Enterprise Group Questech Inc. R. R. Donnelley & Sons Company Ruddick Corp. Ryder System Inc. Sallie Mae (Stud Ln Mktg Assoc.) Savannah Electric & Power Co. Sequa Corp. Service Merchandise Co. Inc. Shearson Mortgage Sherwin-Williams Sky Chefs Smart & Final Inc. Smith Barney Sonoco Products Co. Southwest Bank Southwest Water Co. Southwestern Bell Corp. Southwestern Electric Power Co. Southwestern Public Service Co. Star Banc Corp. Stauffer Management Company Steelcase Inc. Sturgis Bancorp Inc Summit Bank of N.J. Swank, Inc. Sysco Corp. Tellabs Inc. Tenet Healthcare Corp. Texas Eastern Transmission Corp. Tompkins Trustco Inc. Too Inc. TXU Corp. TXU Electric Co. TXU Gas Co. TXU US Holdings Co. TYCO International Ltd Bermuda UnifFrst Corp. Union Bank United National Bancorp Urocor Inc. Vineyard National Bancorp W. R. Grace & Company Wachovia Corporation Walgreen Company Wal-Mart Stores Walt Disney Wang’s International, Inc. West Coast Bancorp West Texas Utilities Co. Westar Energy Inc. Western Aire Chef Inc Western Resources, Inc. Westpoint Pepperell Wilmington Trust Corp Winn Dixie Winnebago Industries Inc. Woolworth Corporation Xcel Energy Inc. York Water Co. Zale Corp.
