Halpin Wants Quad-Cites Legislators to Override Veto of Life Insurance Payout Bill

ROCK ISLAND, Ill. – State Rep. Mike Halpin, D-Rock Island, is urging his colleagues to override Gov. Bruce Rauner’s veto of a measure that would better assist family members trying to track down a loved ones’ life insurance benefits or who may not even be aware that such a policy exists.

“With this veto, the governor made Illinois the only state to outlaw the use of independent private auditing firms that can be utilized to keep big insurance companies honest,” Halpin said. “If an insurance company wants to hold onto a person’s life insurance benefits to help their company’s bottom line at the expense of a grieving family, the governor’s veto allows for that to happen.”

According to the treasurer’s office, over $550 million in death benefits that had not been paid out to Illinois residents were recovered by auditors between 2011 and 2015. The Halpin-backed House Bill 302 would allow for local independent attorneys and law firms to search records dating back to 2000 on behalf of people or organizations who may be owed unclaimed benefits.

“I was the only Quad City legislator that supported this bill when it first passed,” Halpin said. “My hope now is that after further review my colleagues recognize that upholding the governor’s unreasonable veto is siding against area residents who are rightfully owed money from insurance companies on policies their loved ones paid into for years.”

For more information, please contact Halpin’s full-time constituent service office at 309-558-3612 or at rephalpin@gmail.com.