Millions of dollars go
unclaimed when an individual dies, and their family is unaware that their loved
one had a life insurance policy.
According to the Office
of Illinois State Treasurer Michael W. Frerichs, over $500 million have gone
unclaimed in life insurance benefits since 2011 alone.
This money belongs to
the relatives of the deceased. Nothing will ever compensate for the loss of a loved
one – but life insurance benefits need to be paid to family members in a timely
House Bill 302 –
supported by AARP and a bipartisan group of legislators – will help ensure
life insurance benefits are paid off to their beneficiaries going back to 2000.
The measure has passed
the Illinois General Assembly, however was vetoed by the Governor. We need you to contact your Representative and
urge them to override the amendatory veto of HB 302!
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Urge You To Override: HB 302, the Life Insurance Reform Act
Dear [Decision Maker],
As your constituent, I need your support on House Bill 302. Over $500 million in life insurance benefits has gone unpaid because grieving family members were unaware that the loved one they just lost had such a policy. Insurers obligated to pay the benefits failed to meet their obligation, and caregivers, children and family members have been forced to live without the support their loved one intended. This money ended up in the pockets of insurance companies. This is wrong and it must be rectified.Many groups, including AARP, support HB 302, and I hope that you do, too. Family members deserve and are owed this money that was paid for by their deceased loved ones, and it must be paid by insurance companies.Please act promptly and vote in support to override the HB 302 veto. It is the right thing to do for Illinois families.I trust and count on your support.