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Bank of America launches new rewards tiers for most affluent clients

Bank of America Corp. (NYSE: BAC) is launching new rewards benefits aimed at its wealthiest clients. The Preferred Rewards program has added two tiers — Diamond, for clients with at least $1 million in investment or deposit assets with BofA, and Diamond Honors, for those who have at least $10 million in assets. John Sellers, Rewards executive, estimated the tiers could draw in 1 million wealth management clients who don’t have a banking relationship with BofA.

My 89-year-old mom’s home is in serious disrepair, and she’s severely ill. Can we skip buying her home insurance?

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