Employer Wants To Take Out Life Insurance On Me (company Is Beneficiary). I’m Uncomfortable. How Do I Decline And What Recourse Should I Expect?
Location: Arizona
I’ve been with my firm for about nine years and am considered a “key person” within the organization. Recently, the company told me they want to take out a life insurance policy on me, with the company as the beneficiary.
As part of the underwriting process, they want me to complete medical requirements including blood work, urine sample, and a detailed health questionnaire.
Important Background: I am severely underpaid for my role and do not have ownership equity in the business.
I’m uncomfortable with this for a few reasons.
-First, I’m not the beneficiary and don’t receive any direct benefit from the policy.
-Second, I’m not comfortable providing medical specimens and personal health information for a policy that is solely for the company’s benefit.
- Third, this feels like a significant personal ask that goes beyond my role or compensation.
I have not signed anything agreeing to this yet.
My questions are:
- Is this something I can reasonably decline without exposing myself to retaliation or adverse consequences?
- What is the best way to say no professionally and clearly?
- What kind of recourse, if any, should I realistically expect if I refuse?
- Is this typically optional, or is it sometimes considered a condition of continued employment?
I want to protect my privacy and boundaries. I’m open to hearing from people who have seen this from an HR, legal, or executive perspective. Thanks in advance.
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