I don't really know that market but assume theyre not more popular because the companies that sell them charge high embedded fees, and also a very high risk pr

I don't really know that market but assume theyre not more popular because the companies that sell them charge high embedded fees, and also a very high risk premium? Similar to whole life insurance. Anyway, the crux of the problem its very difficult walk the line of having institutions that safely guarantee massive financial payouts 50+ years into the future. From the perspective of the seller its an asymmetric risk. We can't even accurately predict the yield on government bonds 5 years from now. The logical thing would be to phase in mandatory 401k contribution and healthcare savings accounts with fixed amount in high-rated bonds. But that might put a dent in the ability of Coca-Cola/Disney/Comcast Co. to suck the American consumer dry so its probably a no-go in our political environment.