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Treasurer Frerichs Pushes Override of Death Benefits Bill Veto

Illinois Treasurer Mike Frerichs is urging lawmakers to override the Governor's veto of a bill that would make sure families receive death benefits when they lose a loved one. The Life Insurance Reform Act requires insurance companies to search their records and make sure they don't have any old death benefits they never paid.Treasurer Frerichs says Illinois is the only state that doesn't have some kind of legislation in place covering this.

If lawmakers are successful in overriding the governor's veto, insurers would have to check their records back to the year 2000 for any policyholders who have died. 

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