Posts Tagged ‘life insurance’

  • MetLife settles accusations it didn’t pay out life insurance benefits Tuesday, April 24, 2012 � by jg

    New York Times: MetLife has agreed to pay $40 million after accusations it didn’t check its database of policyholders against Social Security death records to determine if it needed to send benefit payments to survivors.

  • State insurance regulators warn consumers about “retained-asset accounts” Monday, August 16, 2010 � by jg

    Bloomberg: The National Association of Insurance Commissioners tells consumers they may be better off taking the death benefit payments they are entitled to rather than letting insurance companies hold onto the money.

  • Insurance companies find way to invest benefit money even after policyholders die Wednesday, July 28, 2010 � by jg

    Bloomberg Markets reporter David Evans offers thorough details, after a six-month investigation, of how some insurance companies hold onto the death benefit unless requested by the beneficiary — even though the beneficiary is entitled to the entire amount right away — and those companies continue to earn interest on the benefit money until it is paid out. (UPDATE 7-29-10: New York attorney general begins investigation.)