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Panel Proposes Rules for Unclaimed Insurance Policies and Annuities
InsuranceNewsNet.com Link to more items from this source
Mar. 5, 2015

"Insurance companies will be allowed to keep funds in unclaimed insurance policies and annuities for three years, under uniform rules being drafted by [Committee to Revise the Uniform Unclaimed Property Act of the Uniform Law Commission (ULC)]. However, they will be required to use the Social Security Death Master File (DMF) or a similar database.... The draft rules will include a dormancy period of three years running from the date of notice of death, unless the insurance company is unable to confirm the death[.]"

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