SPRINGFIELD, Ill. – To help guarantee family members receive their loved one’s life insurance benefits, state Rep. Camille Lilly, D-Chicago, voted to override Gov. Bruce Rauner’s veto of a measure requiring life insurance companies to pay any benefits owed to survivors.

“By vetoing this bill, the governor is demonstrating that he is more concerned about the profits of multimillion dollar corporations than the livelihood of hard-working families,” Lilly said. “People pay these insurance companies to ensure that loved ones are financially secure when they pass, and we have the responsibility to guarantee that the benefits owed are being given to the families.”

Lilly is a sponsor of House Bill 302, which requires life insurance companies to pay beneficiaries benefits owed to them by comparing the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The Illinois Treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. Lilly’s legislation will put beneficiaries before the profits of insurance companies.

“Currently, there are many unclaimed life insurance policies in Illinois,” Lilly said. “By requiring insurers to inspect their records and inform beneficiaries, insurance companies will be prevented from profiting off of people who are unaware of their benefits. I am committed to protecting the consumer, not the company.”

Lilly represents the 78th District, which includes parts of Chicago, Oak Park, Elmwood Park, River Grove, Franklin Park, and Melrose Park.

SPRINGFIELD, Ill. – In response to the governor’s veto of consumer protections for life insurance beneficiaries, state Rep. Jonathan Carroll, D-Buffalo Grove, voted last week to increase the level of outreach life insurance companies undertake when searching for beneficiaries that might be unaware their loved one had life insurance.

“Our loved ones purchase life insurance to cover the incredibly expensive costs of health care, funeral arrangements and the loss of income,” Carroll said. “It is unconscionable that the big life insurance companies are using the money rightfully owed to families to pad their own profits.”

Since 2011, the Illinois Treasurer’s office has discovered over $500 million in benefits yet to be paid to families of the deceased. House Bill 302 requires life insurance companies to check death records and ensure that beneficiaries are receiving the money that is rightfully owed to them. Additionally, the bill mandates insurance companies update contact information from existing accounts to ensure policies do not go unpaid.

“The big insurance companies already have enough representation in Springfield,” Carroll continued. “I am going to be sticking up for families by fighting for legislation that provides families what they are rightfully owed.”

SPRINGFIELD, Ill. – State Rep. Larry Walsh Jr., D-Joliet, is urging his colleagues to override Gov. Rauner’s veto of legislation that helps ensure life insurance benefits are paid to the family members for whom they were intended.

“By vetoing this bill, the governor is letting huge insurance companies withhold the benefits rightfully owed to grieving families,” Walsh said. “Individuals paid into their policies diligently so their families would have security and assistance if they passed away, and the governor is trying to stop that from happening.”

Walsh’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The measure builds off of a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward.

Walsh’s legislation requires companies to also look back through their records and ensure the beneficiaries of these policies receive any funds owed to them. The Illinois treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. Walsh’s measure would also require insurance companies to request updated contact information from policyholders to keep policies from going unpaid.

“Paying out these benefits to the families owed money is the right thing to do,” Walsh said. “I encourage my colleagues in the House to hold huge insurance companies accountable and get these funds to those who deserve them.”

For more information, please contact Walsh’s full-time constituent service office at 815-730-8600.

SPRINGFIELD, Ill. – State Rep. Larry Walsh Jr., D-Joliet, is calling on Governor Rauner to sign legislation sitting on his desk that would help ensure life insurance benefits are paid to the family members receive that they were intended for.

“Huge corporate insurance companies are maximizing their profits at the expense of the families of their clients who have paid diligently into life insurance policies,” Walsh said. “These unpaid benefits should not be padding the pockets of insurance CEOs, they should go to the families they were meant for.”

Walsh’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The measure builds off a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward.

Walsh’s legislation requires companies to also look back through their records and ensure the beneficiaries of these policies receive any funds owed to them. The Illinois treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. Walsh’s measure would also require insurance companies to request updated contact information from policyholders to keep policies from going unpaid.

“This proposal simply asks companies to go through their records to honor the policies that they owe to grieving families—it’s the right thing to do,” Walsh said. “Governor Rauner please put your corporate agenda aside, sign this bill and put working families in Illinois ahead of corporate profits.”

House Bill 302 passed the House and the Senate and is awaiting further action from the governor.

SPRINGFIELD, Ill. – Legislation backed by state Rep. Larry Walsh Jr., D-Joliet, which would help ensure that family members receive their loved ones’ life insurance benefits, recently passed the House.

“People pay diligently into life insurance policies to ensure that their families and loved ones receive assistance,” Walsh said. “We can’t stand by while benefits are used to pad the pockets of corporate insurance executives, instead of going to the families that they are rightfully owed to.”

Walsh’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The measure builds off a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward.

Walsh’s legislation requires companies to also look back through their records and ensure the beneficiaries of these policies receive any funds owed to them. The Illinois treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. Walsh’s measure would also require insurance companies to request updated contact information from policyholders to keep policies from going unpaid.

“The death of a family member can be a very trying time for families which can cause things to fall through the cracks,” Walsh said. “This proposal makes the insurance company responsible for finding the folks who are owed life-insurance benefits.”

House Bill 302 awaits further consideration in the Senate.

Springfield, Ill. – Legislation sponsored by state Rep. John D’Amico, D-Chicago, that helps guarantee family members receive their loved ones’ life insurance benefits recently passed the House.

“It’s unconscionable to think that some insurance companies are not paying out the life-insurance policies of individuals that have diligently paid into them for years,” D’Amico said. “Families deserve to receive the benefits that their loved ones wanted them to have.”

D’Amico’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The measure builds off a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward.

D’Amico’s legislation requires companies to also look back through their records. Life insurance companies would be required to ensure the beneficiaries of these policies receive any funds owed to them. The Illinois Treasurer’s Office has identified $550 million in unpaid death benefits in Illinois since 2011. This legislation would also require insurance companies to request updated contact information for policyholders to keep policies from going unpaid.

“These unclaimed, unpaid benefits shouldn’t be padding the profits of corporate insurance companies when they rightfully belong to Illinois families,” D’Amico said. “I will continue to advocate for this proposal’s passage and encourage my colleagues in the Senate and the governor to stand up for Illinois families.”

House Bill 302 passed the House and is awaiting further consideration in the Senate.

SPRINGFIELD, Ill. – Legislation sponsored by state Rep. Jay Hoffman, D-Swansea, that would help ensure that family members receive their loved ones’ life insurance benefits recently passed the House.

“Life insurance companies should not be allowed to get out of payments because something falls through the cracks,” Hoffman said. “People pay diligently into life-insurance policies to make sure that their loved ones receive assistance. This proposal helps guarantee that policies are paid out and that families receive what their loved ones wanted them to have.”

Hoffman’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. The measure builds off a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward.

Hoffman’s legislation requires companies to also look back through their records and ensure the beneficiaries of these policies receive any funds owed to them. The Illinois treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. Hoffman’s measure would also require insurance companies to request updated contact information from policyholders to keep policies from going unpaid.

“There are vast sums of unpaid death benefits that belong in the pockets of Illinois families, rather than padding the bottom line of corporate insurance companies,” Hoffman said. “The work of ensuring that benefits are paid out should be on insurance companies, not grieving families.”

House Bill 302 passed the House and is awaiting further consideration in the Senate.

SPRINGFIELD, Ill. – Legislation sponsored by state Rep. Kelly Burke, D-Evergreen Park, helping guarantee family members receive their loved ones life insurance benefits passed the House Tuesday.

“This legislation guarantees that families receive what their loved ones wanted them to have,” Burke said. “When a loved one passes away, it is often a stressful time for friends and family members and collecting on a life insurance policy is often the last thing on a person’s mind.”

Burke’s House Bill 302 requires life insurance companies to compare the Social Security numbers of their policyholders dating back to 1996 to Social Security death records. Her measure builds off a new law signed last year requiring insurance companies to inspect Social Security death records for newly signed policies going forward. Burke’s legislation requires companies to also look back through their records. Life insurance companies would be required to ensure the beneficiaries of these policies receive any funds owed to them. The Illinois treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. This legislation would also require insurance companies to request updated contact information for policyholders to keep policies from going unpaid.

“It’s important for individuals to have conversations with a friend or family member about the life insurance policies they have,” Burke said. “I also encourage residents to update the contact information for existing life insurance plans.”

DES PLAINES, Ill. – To help residents of deceased loved ones receive the life insurance they are entitled too, state Rep. Marty Moylan, D-Des Plaines, is backing legislation requiring life insurance companies to review their records and pay beneficiaries any funds owed to them.

“Life insurance is an uncomfortable conversation for many to have and as a result families may not be aware their loved one had a policy,” Moylan said. “This common-sense legislation will help ensure all beneficiaries receive what is rightfully theirs.”

House Bill 302 requires life insurance companies to compare the social security numbers of their policy holders dating back to 1996 to social security death records. House Bill 302 builds off a new law signed last year requiring insurance companies to inspect social security death records. The Illinois Treasurer’s office has identified $550 million in unpaid death benefits in Illinois since 2011. This legislation would also require insurance companies to request updated contact information for policy holders to prevent unpaid policies

“I encourage residents to discuss with their loved ones the life insurance policies they own and to update the contact information of older policies,” Moylan said. “Taking the time to review your life insurance policies can prevent unnecessary pain for your loved ones in the future.”

For more information, please contact Moylan’s full-time constituent service office at 847-635-6821 or email staterepmoylan@gmail.com.