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Lots of states have passed bills in recent years mandating that insurance companies must search for beneficiaries of unclaimed life insurance policies when the policyholder dies.
Illinois is currently considering House Bill 4633 – the Unclaimed Life Insurance Benefits Act. Turns out the bill may violate contract clauses in the state and federal constitutions…
http://www.chicagobusiness.com/article/20160825/NEWS01/160829917/biz-groups-mount-last-ditch-effort-to-kill-life-insurance-reform-bill
Analyst: Illinois' Unclaimed Life Insurance Benefits bill may be illegal | Sangamon Sun
Think the insurance companies are a bit upset about the profitability of companies like Verus Financial and Kelmar in conducting audits for state treasury departments - and states looking at the audits as an opportunity to fill state coffers
Illinois is currently considering House Bill 4633 – the Unclaimed Life Insurance Benefits Act. Turns out the bill may violate contract clauses in the state and federal constitutions…
http://www.chicagobusiness.com/article/20160825/NEWS01/160829917/biz-groups-mount-last-ditch-effort-to-kill-life-insurance-reform-bill
Analyst: Illinois' Unclaimed Life Insurance Benefits bill may be illegal | Sangamon Sun
Think the insurance companies are a bit upset about the profitability of companies like Verus Financial and Kelmar in conducting audits for state treasury departments - and states looking at the audits as an opportunity to fill state coffers