how normal/popular is corporate-owned life insurance?

Question

how normal/popular is corporate-owned life insurance (when an employer wants to insure himself in case his employee dies)? Should I be concerned about anything if my employer asks for such insurance? Or is it something "normal" nowadays?

William John Light · Answer

In general, it's nothing to be concerned about.  https://en.wikipedia.org/wiki/Corporate-owned_life_insurance 
 
"Notice and Consent Requirements 
 
The Employee must, prior to the issuance of the insurance contract: 
Be notified in writing that the employer intends to insure the employee’s life and the maximum face amount for which the employee could be insured at the time the contract is issued. 
Provide written consent to be insured under the contract during and after active employment. 
Be informed in writing if the employer will be a sole or partial beneficiary of any death benefits. 
Specified Exception: 
The insured was an employee at any time during the 12-month period before the insured’s death. 
Specified Exception: 
Directors and Highly Compensated Employees: At time of contract issue, the insured employee was a director, or a 5% or greater owner of the business at any time during the preceding year, or received compensation in excess of $95,000, adjusted for future inflation, in the preceding year, or was one of the five highest-paid officers, or was among the highest-paid 35% of all employees. 
According to one source,[who?] Hartford Life Insurance estimated that one-quarter of all Fortune 500 companies have COLI policies, which cover the lives of about 5 million employees."

Q: how normal/popular is corporate-owned life insurance?