Federal law limits the number of account transfers and withdrawals at six per month for regular savings accounts and money market savings accounts. (bettermoneyhabits.bankofamerica.com)
There may also be tax benefits to your survivors if you leave them money in a life insurance policy instead of in regular savings. (money.stackexchange.com)
It is an investment policy that you purchase from a life assurance company, set up as regular savings plans which pay out a lump sum amount at the end of a set period. (pnbmetlife.com)