Prudential Settles With States Over Death Benefit Issue
Last year, nine insurance companies were subpoenaed as part of an investigation being done by several states. The investigation had to do with how the insurance industry was handling unclaimed life insurance benefits. This week, Prudential signed a settlement with the Insurance Regulators. It all started in 2011. There were questions about how some insurance companies were handling the money that came from the death benefit of life insurance policies. When a policyholder dies, the death benefit is supposed to go to the person that the policyholder selected as his or her beneficiary. The insurance company is supposed to put … Continue reading