• Bill forces insurers to seek survivors
    March 24,2013
     

    Bill forces insurers

    to seek survivors

    MONTPELIER — The Vermont House has passed a bill requiring life insurance companies to make a good-faith effort to locate beneficiaries after a policyholder dies.

    House Speaker Shap Smith said that in too many cases, insurance companies make little or no effort to track down survivors and thereby avoid paying on a policy.

    The bill awaits Senate action. It would require life insurance companies to maintain and monitor a “Death Master File,” a program that matches a person on the file and the Social Security number, name or date of birth of an insured annuity owner.

    Smith said the bill seeks to ensure that when someone buys life insurance in the hope of providing security for loved ones, that actually happens.

    MORE IN Vermont News
    BURLINGTON — The University of Vermont has made the short list of colleges and universities... Full Story
    MONTPELIER — Four years after flooding from Tropical Storm Irene nearly destroyed Vermont’s fish... Full Story
    MONTPELIER — The Vermont attorney general’s office said Thursday it may review the case of a... Full Story
    More Articles
  •  
     
    • MEDIA GALLERY 
    • VIDEOS
    • PHOTOS