Are some life insurers in Florida purposely avoiding paying out on policies of deceased?
Wake up and good morning. If this is true, it’s one of the more despicable schemes out there. Florida and other states are investigating whether some of America’s largest life insurers are failing to ensure that they pay out on policies of deceased customers. Preliminary findings by regulators in Florida and California found that some insurers “appeared to have turned a blind eye to data sources that could have revealed that certain policyholders had died and that their heirs were owed money,” the Wall Street Journal reports. This happened even as the insurers used the same sources to justify cutting off annuity payments for customers who had died, the newspaper said. …
