VT House Passes Unclaimed Life Insurance Benefits Bill Friday - FOX44 - Burlington / Plattsburgh News, Weather & Sports

VT House Passes Unclaimed Life Insurance Benefits Bill Friday

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MONTPELIER, Vt. -

The Vermont House of Representatives has passed an unclaimed life insurance benefits bill Friday.

A press release says the bill, H.95, requires life insurance companies to make a good faith effort to locate beneficiaries after a client has died. 

"If an individual has paid an insurance company to provide financial security for her loved ones, the company should provide the security that they have promised," said Speaker Shap Smith; "this bill will help make that happen."

The bill is sponsored by Bill Botzow (D-Bennington-1), Warren Kitzmiller (D-Washington-4), and Michael Marcotte (R/D-Orleans-2).

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