A lot of businesses take out life insurance on high level managers and executives. I disagree that it is not known that the payouts go to the company and not to the employee's family. Lots of people know about this and it's a common practice. I don't have a problem with it. If a Vice-President of Wal-mart dies, it might be difficult to find someone else capable of doing the same job and expensive to train the new person. Also if the things this person was in charge of suffer for a while until someone new gets up to speed, the company could lose profits. If it was somebody that was uniqiuely good at what he did, the business might never be the same (think of someone like Steve Jobs). I don't have a problem with companies taking out insurance to protect themselves against something like that. It's not like you taking out insurance on your neighbor's house because if the employee is important enough there would be a loss to the company.
I think that the issue with Wal-mart was that they were taking out policies on janitors and regular employees, which I do think is a problem, in that they were trying to exploit tax loopholes and profit from the deaths of low-level employees. I am sure the WTS could not take out life insurance policies on regular members. Whether they take out insurance on HQ people is a good question. It's probably hypocritical on some level but even if they did this it would be pretty mild on the spectrum of WTS hypocrisy.