The Pennsylvania Insurance Department recently announced the availability of its Life Insurance Finder as a service to those who have lost a loved one but are unable to locate their policy, according to the department’s website.
The service was developed with the National Association of Insurance Commissioners.
When a Pennsylvania resident files a location request, the Insurance Department will ask carriers to search their databases for life insurance information. If a policy is found and the inquiring party is a beneficiary, the department will then ask the insurer to notify the beneficiary.
The department cannot require insurance firms to notify beneficiaries under the current law, but Insurance Commissioner Teresa Miller told reporters she supports legislation filed in the General Assembly that will require companies to do so. Rep. Marguerite Quinn filed the proposed law.
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