News from Rockford, IL Democrats – more news at WinnDems.org.

Take a Stand for Grieving Families over Insurance Company Profits




Dear Friend,
Last year, you helped me win a fight with life insurance companies that pad their bottom lines rather than pay death benefits to grieving families.
I need your help to continue the battle. We took the first step last year in stopping this despicable practice going forward, but what if a family member died last year, or 10 years ago? 
House Bill 302 will require life insurance companies to identify policies that have not been paid to the rightful beneficiaries from 1996 to the present.  Insurance companies representing 80 percent of the market have already done the right thing. They entered into settlements with my office, allowed auditors to check their policies, and paid beneficiaries or turned the proceeds over to my office so we can continue to seek the rightful owners.  Through these audits my office found over $550 million that belongs to Illinois residents that insurance companies had not paid. 
Right now we are in a fierce battle with lobbyists representing the last 20% of insurers.  These are companies that told the federal Security and Exchange Commission that paying beneficiaries will cut into their profits and force them to change their business model.
Illinoisans deserve to have the piece of mind that the last wishes of their loved ones will be honored.
Send to your friends and family and encourage them to sign our petition too! 
Sincerely,
 

 

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This Rockford Democrat blog features news and press releases from Rockford, IL Democratic officials and candidates for office.
It is a "lite" version of WinnDems.org.
Paul Gorski is the editor and posts the content. More information about local Democratic officials and candidates can be found at WinnDems.org (http://www.winndems.org)
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