Curbs are sought on COLI policies
Corporate-owned life insurance would face new restrictions under a bill sitting in a House subcommittee.
Corporate-owned life insurance would face new restrictions under a bill sitting in a House subcommittee. Sponsored by Rep. Gene Green, D-Texas, HR 150 would prevent companies from taking out life insurance policies on employees, regardless of income, without telling them. The pension reform bill that became law last year included a provision that limits the use of COLI policies to the top 35% of earners in a company, or those making more than $100,000 per year.
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