summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
So much of the recommendations of the Department of the State Treasurer (House, No. 23) as relates to life insurance proceeds. Financial Services.
AI Summary
This bill amends Chapter 200A of the General Laws to require life insurance companies to conduct regular checks against the Social Security Administration's Death Master File to identify potential matches of deceased policyholders. The bill mandates that insurers make good faith efforts to confirm the deaths, determine if benefits are owed, and locate the beneficiaries to provide them with the necessary claim forms. The bill also prohibits insurers from charging fees or costs associated with these searches and requires unclaimed benefits to be escheated to the state as unclaimed property.
Committee Categories
Business and Industry
Sponsors (0)
No sponsors listed
Last Action
Accompanied a study order, see H4785 (on 07/19/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H34 |
| Bill | https://malegislature.gov/Bills/190/H34.pdf |
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