It used to be that when somebody died, it was up to the relatives to claim the life insurance....
Monday, August 13, 2012, 5:59 AM ETIt used to be that when somebody died, it was up to the relatives to claim the life insurance. Now, states are making insurers constantly check their client lists against a death database and find the beneficiaries. States reckon firms have failed to pay well over $1B over the decades and have settled or are in talks to settle with several of them, including MetLife (MET), Prudential (PRU), Manulife's (MFC) John Hancock and AIG.
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