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    William K. Wolfrum's Morning: Make Money with Dead U.S. Veterans!

    You see a Homeless U.S. Veteran. Insurance companies see dollar signs.

    Wolfrum's Word

    Today's proof that U.S.-Style Capitalism is a heinous monstrosity - Retained Asset Accounts on U.S. Soldiers.

    In retained asset accounts, rather than paying out death claims all at once, the insurance companies keep the funds in an account, and give beneficiaries so-called checkbooks to access the money. The companies pay the beneficiaries a small amount of interest for the money they're holding — usually 1 percent or less — while the companies themselves invest the money and earn a much higher return, often around 4 or 5 percent. ... An investigation by Bloomberg Markets magazine determined there are as many as 1 million such accounts, containing some $28 billion.

    Profiting from Dead U.S. Soldiers. Happy Veterans' Day, America.


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    Crossposted at William K. Wolfrum Chronicles

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