Texas Returns Life Insurance Benefits — Closes, Expensive Loophole
Since fiscal 2013, the Comptroller's office has returned more than
Traditionally, life insurance companies were not required to pay benefits, even when they knew an insured person had passed away, unless they were notified by the beneficiaries. That practice even allowed companies to continue drawing on a deceased person's policy for premium payments, sometimes until its value ran out.
"I'm proud to say
In this issue, we also look at the work of our Economic Growth and
Fiscal Notes is available online and also can be received by subscribing via the Comptroller's website. An additional, online exclusive details how to search and claim unpaid life insurance proceeds.
Fiscal Notes helps promote and further explain the Comptroller's constitutional responsibility to monitor the state's economy and estimate state government revenues. It has been published since 1975, featuring in-depth analysis concerning state finances and original research by subject-matter experts in the Comptroller's office.
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