For years life insurance companies have placed life insurance proceeds into a money market type account at interest if the beneficiary did not ask for a lump sum right away. It was a viable and correct option.
Many do not want large sums right away. They haven’t fully decided their investment options.
What is more, these days of “easy money” the insurance companies pay a little more interest on such accounts, even more than do banks.
But politicians on the Left always need to demagogue and a financial institution always suits the purpose. Why should giant life insurance companies profit, they say, by holding insurance proceeds of the little guys? ( See the Earl J Weinreb NewsHole® comments.)
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