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Relentlessly followed on this program. things to a certain extent are changing for the military families who lose loved ones. well, old insurance executives get rich on the blood of our soldiers, our politicians were empowering this. that may be about to change. for those of you not familiar with the story, a quick brief. prudential came under fire withholding insurance money owed to surviving family members. there is it a beth pen filbenef. instead of paying a lump sum to beneficiaries or helping them set up that lump sum in an account held in their name where they collect the interest, the company instead would keep all the death benefit money for themselves, send check books to the families and saying they can access it a little bit at a time. this way prudential can keep the bulk of the death benefit funds in the general account where it earns interests and profits for prudential while misleading the family to believe it s an fdic ....
Insured bank account because it has a checkbook. but it is not fdic insured. they get a tiny interest rate on that account while prudential or metlife or whoever it is gets a huge interest rate. very profitable for old insurance executives, absolutely despicable to the family of our soldiers, of course, the insurance executives give more money to our politicians. but no more. at least a little bit. the va saying prudential will now send checks directly to grieving families who ask for them rather than holding on to the money. transparency will be improved, that s progress. but hard lit best solution whoa you re dealing with a grieving family. wouldn t it be the decent, human honorable thing to do to help them set up that account in their name so that they get that interest? instead of either saying here s a bunch of money, good luck to you? or give us the money, we ll take the interest and good luck to you? these are american businessmen. ....
Prudential had actually done an agreement and i don t think the agreement was made public, at least not to people like us, it was astounding. where do you go where you re going to get actual help? i mean we re so disappointed in the government. sweer disappointed in prudential. and it just appeared, i m happy for the moves the va has made. but the va hasn t done enough yet. kevin, we will stay on this until it is resolved. you have my word. i know there are few others within the media that have really understand what you have gone through or as empathetic to what you ve gone through as is possible. and are as offended or share your offense, i should say and i m one of those people. thank you for coming on to share your story with us so that we can understand it better. kevin lucy who is in the process of suing prudential but who lost his son after the iraq war and ....
These are the people who control our government? where is our honor as a country? we re joined now by kevin lucy who along with his wife is suing prudential. he lost his son jeff who served in iraq. are you horrified that the va knew this was going on? it rein ijs us. it gets us so angry. here we have the people that are supposed to be taking care of our soldiers and what they do instead is that they turn their backs to them and allow somebody to profit. that s wrong. think about how much money the insurance company can make by trading the death benefit of our soldiers and then they give a little bit of it to politicians and tell everybody they re doing the soldiers a favor. did you feel like the insurance company and the government was doing you a favor? when we found out about this, we felt totally victimized. we felt that there was no honor. and everything that jeff had done. you don t come back to a government who is actually going to play games like this. this makes no sense ....