Document Type
Article
Publication Date
Fall 2012
ISSN
0040-3288
Publisher
Tennessee Law Review Association
Language
en-US
Abstract
RAAs (Retained Asset Accounts) are a life insurance innovation that is likely of small value to most beneficiaries. In many cases, it will make the most financial sense for a beneficiary to write a check to himself for the entire policy proceeds and deposit those funds into an insured bank account. Some beneficiaries, however, may find the RAA device helpful. It is impossible to anticipate the myriad circumstances that beneficiaries may face at the time of an insured's death. As long as insurers provide full and clear disclosure (which ERISA fiduciary standards demand), consumers should remain free to choose an RAA as one of several options.
Recommended Citation
Maria O'Brien,
Disclosure to the Rescue: A Conceptual Framework for Retained Asset Accounts
,
in
80
Tennessee Law Review
69
(2012).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/196
Comments
Boston University School of Law, Public Law & Legal Theory Paper No. 12-58