Unclaimed Life Insurance Benefits Act at Life

Unclaimed Life Insurance Benefits Act. The north carolina unclaimed property act (the act) is found in article 4 of chapter 116b of the general statutes. The illinois governor recently signed the unclaimed life insurance benefits act which will go into effect on january 1, 2017.

Provides that the purpose of the act is to require all authorized insurers regulated by the department of insurance to undertake good faith efforts, as specified in the act, to locate and pay beneficiaries' proceeds under unclaimed The burden was on the beneficiary to claim the benefit. In 2011, life insurers paid out over $62 billion in claims.

Check Six CPT Joseph Chaves Retiree News

The report shall be filed in writing with the comptroller. The unclaimed life insurance benefits act. The north carolina unclaimed property act is found in This act shall be known and may be cited as the unclaimed life insurance and annuities act.