An Act relative to unclaimed life insurance benefits

This bill requires life insurance companies in Massachusetts to regularly check their records against a national database of deceased individuals to find unclaimed death benefits. Insurers must perform these checks at least twice a year and, if a potential match is found, they have 90 days to verify the death and make a good faith effort to locate the beneficiary. The law specifically defines which types of insurance policies are included and outlines strict rules for handling names and dates to ensure accurate matches. By automating this search process, the bill aims to help families receive money they are owed when a policyholder passes away without having designated a beneficiary.