If a company gave all employees life insurance in their names, should any of them lose their job does their employer have the right to take away the insurance?
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If a company gave all employees life insurance in their names, should any of them lose their job does their employer have the right to take away the insurance?
Does the company the life insurance policy came from have to inform the employee that that they are loosing their life insurance?
Asked on January 7, 2015 under Employment Labor Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Such life insurance is typically provided as a benefit of employment. That means that employees will lose it upon the termination of their employment, whether that was a voluntary termination (e.g. resignation) or involuntary (firing; lay offs). The insurer would be under no obligation to specifically tell the employees of the actual or pending loss.
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