WASHINGTON D.C. - Congressman Walter Jones doesn't want insurance companies to play around with the death benefits of fallen service members.
Jones wants a hearing on the practice of creating "Alliance Accounts". Instead of providing a direct payment to beneficiaries, prudential and other insurance companies that handle military insurance policies, hold the money in a general corporate fund and invests it until the beneficiary withdraws all the money.
The funds are not FDIC guaranteed companies make money on the interest. Jones says we need to figure it out.
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