Hey, TeaBags, you know those Free Market Insurance Companies..

The ones you trust to sort out the health care dilemma by consistently denying Health Care to as many people as possible, thus somehow improving health care for everybody. Yeah. THOSE Insurance companies. Their Life Insurance affiliates just shat all over the War Widows and orphans. And, since there’s a little bit of Taxpayer backing of their scams, through direct buying of their “service” to hidden subsidies like Tax Breaks for THEM because they’re in a War Industry. Then there’s THIS:

For the families of fallen soldiers, funds from their loved ones’ life insurance policies may provide little comfort for their loss, but it just adds insult to injury to learn that insurance companies have set the system up so they make a profit by holding onto payouts, using the funds to make more money, and pocketing most of the earnings [1].

According to an excellent investigation [1] published by Bloomberg yesterday, that’s exactly what happens with “retained-asset accounts,” which have become “standard operating procedure” in the life insurance industry.

They’re holding back on giving the Families control of funds that are rightfully theirs and reinvesting the money. The thieving nature of Capital once again rears its head.
The “checks” aren’t accepted in many places because they’re in a Savings Account rather than a Checking Account, and the funds have to be transferred to Checking in order for a check to not bounce. A lot of on-the-edge-themselves small businesses can’t afford that lapse in time because it will screw up THEIR accounts. You know, the ones that are on the edge.
The “savings account Interest” paid to the families account is like a half a percent. The banks that are underwriting the “checking accounts” are getting far more in interest simply because they’re Banks, and big ones at that. Like, the banks that crashed the economy investing in the Mortgage Scam.

There IS one thing that can be done, though. Folks, when you get that “checkbook” draw out every penny of the funds. Manage your account yourself instead of letting the Friendly Neighborhood Thief Big Brother do it for you. If they were so hot at investing your funds in the first place they wouldn’t be on the bailout lists in the second place.

Just one more instance where “Trust Us, we’re the experts” doesn’t actually work. Their “Experts” didn’t know or didn’t care about the Pyramid Scheme mortgage market. So why SHOULD you trust them?

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Brother Jonah

About Brother Jonah

Recovering Texan. Christian while and at the same time Anarchist. (like Tolstoy only without the beard, for now) Constantly on the lookout for things which have relevance to things I already know. Autistic. Proud to be Ex- air force. Out of the killing machine for 27 years 4 months and 5 days woohoo!
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