But here’s the kicker: the beneficiaries are neither the insured nor their loved ones, but the corporations themselves. The practice was started years ago as a way for big companies to protect themselves in case of the untimely demise of key employees. Today, however, even with limited restrictions placed on banks and other organizations seeking such policies (like requiring their employees’ consent and limiting policies to the highest-paid members of an organization), the practice is not only continuing; it’s a growth business, to the tune of billions of dollars.

Read the full article from the New York Times' DealBook.