The only positive in this proposal would be that nobody would run out of money (apparently). They would divide the money over the number of years (to your supposed age of death) and then give you a monthly income. I think for some this could be a good thing. However those responsible with their money this is not a good thing.
The real plan is to take your money in exchange for for a small bit of income that will NOT be a part of your estate when you die. Phase two of the plan it to ration healthcare for the elderly so that you die sooner.
You have to remember, this will be wrapped in the flag and you will be seen as unpatriotic if you do not go along with this.
No. You can get that from an insurance company now. You can get income riders on indexed annuities that are 8% growth on the income part. The nice thing about insurance companies is they are regulated by states that do a good job. Insurance companies also held up in the depression when banks failed.