Package Listing Options News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Is really standard operating procedure in the life insurance industry. new york s attorney general cuomo is investigating. he charges, quote, the insurance industry appears to be hoarding millions that belong to military families whose loved ones have made the ultimate sacrifice for our country. what exactly does he mean by hoarding? when a soldier dies, the family receives a package listing options for the death benefit. one option is a lump sum but prudential doesn t automatically mail a check. instead, the company creates what it calls an alliance account, a personal interest-bearing account giving you full access to your money. when the heirs want money they write a check and deposit it. well, tell us, i guess what s being criticized, the reason is because soldiers families aren t making much interest on that money? is that right? reporter: that is exactly the case. the money sits with prudential. it currently pays interest of only 0.5%. the insurance company of course is able t ....

Attorney General , New York , Life Insurance Industry , Hoarding Millions , Operating Procedure , Loved Ones , Lump Sum , Package Listing Options , Death Benefit , Prudential Doesn T , The Americans , Alliance Account , Insurance Company , Prudential Financial , 0 5 ,