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Originally posted by KSig RC
Many contracts include clauses of this type - even professional athletes have contracts voided for doing things like that. Again, it's a massively dick thing to do to employees, but it's probably legal - and it will alienate some, but it doesn't infringe on their right to work, really.
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Saying a pro athlete or actor can't do this or that is quite a bit different than saying Joe Blow can't. If Brad Pitt or Donovan McNabb goes skydiving and dies, it has an impact on everyone who was either working on Brad's latest movie or everyone affiliated w/ the Eagles. We're talking hundreds of people. If Joe Blow goes skydiving and dies, well, the company pays the death benefit to his family and they're done. The company doesn't fold because of it. There's simply no comparison.
There is such a thing as Key Man coverage where you can take out higher insurance on the CEO and such so the co doesn't go under if he dies. However, all companies should have a succession plan in place. Any CEO who doesn't do this is remarkably short-sighted. Point being that there is no insurance against running your business crappily.
The fact of the matter is that the longer people live, and the more ways we invent for people to live longer, the higher insurance premiums will be. I've seen groups full of retirees that are still on insurance that a generation ago, probably wouldn't have existed - they would all be dead.