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U.S. Veterans Benefits Stolen By Insurance Agency Prudential

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Uploaded on Sep 20, 2010

The U.S. Department of Veterans Affairs failed to inform 6 million soldiers and their families of an agreement enablingPrudential Financial Inc. to withhold lump-sum payments of life insurance benefits for survivors of fallen service members, according to records made public through a Freedom of Information request.

The amendment to Prudential's contract is the first document to show how VA officials sanctioned a payment practice that has spurred investigations by lawmakers and regulators. Since 1999, Prudential has used so-called retained-asset accounts, which allow the company to withhold lump-sum payments due to survivors and earn investment income on the money for itself.

Read entire article at http://infowar.co/featured/u-s-vetera...

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