NCOIL’s Pre-Thanksgiving Turkey
At its recent annual meeting in Santa Fe, New Mexico, the National Conference of Insurance Legislators approved a Model Unclaimed Life Insurance Benefits Act. The action came only weeks after the model law was first introduced. Unfortunately, the model law is severely flawed and would do much more harm than good. Life insurers should hope that, before taking action, state legislatures will spend more time studying the scope of the issue and crafting a suitably calibrated solution.
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