Unclaimed billions from life benefits…who will get it?

Lawmakers in the U.S. are battling over billions of dollars in unclaimed life insurance benefits. A number of states have stepped into the legal arena, hoping to lay claim to the money. Technically, the money belongs to beneficiaries, but states have laws that impose statutes on how long benefits can go unclaimed. The money presents an enticing opportunity for states that have dangerously thin wallets. California, in particular, has been aggressive in their pursuit of these funds. The state, after meandering through the legal process, is now pressuring insurance companies…

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