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Lawmakers sent an overwhelming signal to life insurance companies in Flordia today: Pay you claims. More than 111 billion in death benefits has gone unpaid over the last 25 years because no claim was filed. Sen. Lizbeth Benaquisto says the companies didn’t do enough to find beneficiaries.

“And if the beneficiary didn’t know they were named in that policy,  and didn’t make a claim for those monies, the insurance company kept the money. 8 billion dollars nationwide” says Sponsor Benaquisto.

Now the companies will have to go back 25 years and try and find beneficiaries. going forward, they must search death records at least once each year and they will have 120 days to find a beneficiary.