Many employers provide life insurance. I’ve always thought that was kind of weird (but then, all of life insurance is weird; it’s more properly “death insurance” anyhow) but it’s a think. My current employer provides (at no cost to me) a life insurance policy sufficient to pay for cryonics. It would currently be given charitably—I have no dependents and my family is reasonably well off—but I’ve considered changing that.
That doesn’t change the situation much, if you can sell it (or get higher pay for refusing it). If you somehow can’t extract value from it (doubtful unless there are laws against selling), then it’s relevant.
I haven’t investigated selling it, but up to a certain multiple of my annual salary it’s included in my benefits and there is no value in setting it lower than that value; I wouldn’t get any extra money.
This is a fairly standard benefit from tech companies (and others that have good benefits packages in the US), apparently. It feels odd but it’s been like this at the last few companies I worked for, differing only in the insurance provider whose policy is used and the actual limit before you’d need to pay extra.
I just looked it up, and apparently reselling life insurance is so popular it has its own word: viatical. I expect you’d get reasonably close to fair value for it, and if you wouldn’t pay fair value for it, you probably should be willing to accept fair value for it.
Although I’m not entirely clear if you can resell life insurance bought by an employer.
Many employers provide life insurance. I’ve always thought that was kind of weird (but then, all of life insurance is weird; it’s more properly “death insurance” anyhow) but it’s a think. My current employer provides (at no cost to me) a life insurance policy sufficient to pay for cryonics. It would currently be given charitably—I have no dependents and my family is reasonably well off—but I’ve considered changing that.
That doesn’t change the situation much, if you can sell it (or get higher pay for refusing it). If you somehow can’t extract value from it (doubtful unless there are laws against selling), then it’s relevant.
I haven’t investigated selling it, but up to a certain multiple of my annual salary it’s included in my benefits and there is no value in setting it lower than that value; I wouldn’t get any extra money.
This is a fairly standard benefit from tech companies (and others that have good benefits packages in the US), apparently. It feels odd but it’s been like this at the last few companies I worked for, differing only in the insurance provider whose policy is used and the actual limit before you’d need to pay extra.
I just looked it up, and apparently reselling life insurance is so popular it has its own word: viatical. I expect you’d get reasonably close to fair value for it, and if you wouldn’t pay fair value for it, you probably should be willing to accept fair value for it.
Although I’m not entirely clear if you can resell life insurance bought by an employer.