Reply #65: How much had Walmart insured her life for?

[DulceDecorum]

Though Texas law does not permit "dead peasant" insurance, Wal-Mart and Camelot thought they could still insure their Texas employees if the policies were created out of state.

In the Wal-Mart case, the insurance policies were signed in Georgia and the company managing its insurance is in Georgia. But Atlas ruled that the policies are governed by Texas law because the workers lived in Texas, worked in Texas and the death certificates are in Texas.

It's not just a Wal-Mart issue, said Bill Wertz, a spokesman at the company's headquarters in Bentonville, Ark. The company, like many in the Fortune 500, availed itself of the insurance policies because of the tax benefits.

"The company feels it acted properly and legally in doing this," he said. Georgia law, not Texas law, should govern, he said.
http://www.walmartwatch.com/info/internal.cfm?subsection_id=131&internal_id=350