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Stop state governments from secreting unpaid life insurance and other insurance benefits in unclaimed property funds

Created by L.B. on October 17, 2011

Insurance companies and other businesses are required by state laws to turn over money they owe to individuals who change residences. Huge sums of these "unclaimed properties" are remitted to state governments, where owners can claim the funds if they learn the money exists. Many state governments keep the details of these properties a secret, and persons to whom the money is owed are unable to find themselves or be notified that the money is there. While some states such as Indiana do not hide this information, other states such as Kansas keep it in secret. The federal government should require all states to be open as to all details of these properties.

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