[QUOTE=Jungle Shift Jet;4016799]If insurers use Social Security database(s) to learn of the death of owners of annuities to stop paying on retirement-income contracts they can't avoid the same data when they owe money to life-insurance beneficiaries.
Again, A lot of folks write wills or buy life insurance without informing the beneficiaries. It's not comforting to know that when these people die, some insurers honor their wishes by not informing the beneficiaries, either.
So life companies have to be a mommy too? What you imply would never work in real life. Just like the IRS has millions in unclaimed checks. Impossible to track everyone etc....
I can't defend a company, I simply stated that I have NEVER seen an insurance company not pay when notified. You now want it to be their responsibility to search for the dead? We disagree.
Last edited by southparkcpa; 04-30-2011 at 05:50 PM.