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Veterans Agency Changes Terms for Prudential Claims
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The U.S. Veterans Affairs Department said Prudential Financial Inc. will now send beneficiaries of VA life-insurance policies a check when they ask for a lump-sum benefit payment rather than keeping the money and mailing a checkbook.
The veterans agency will continue to offer a money-market type account that lets the insurer withhold payments of benefits for survivors of fallen service members, while making clear the funds aren’t insured by the Federal Deposit Insurance Corp. and the accounts aren’t endorsed by the government, the VA said today in a statement on its website.