Aegon called to the carpet in multistate settlement

September 10, 2013 by Elizabeth Festa

States wrote another chapter in their series of multistate life insurance settlements regarding the use of the Death Master File (DMF) database with  Netherlands-based Aegon’s agreement to pay $11.2 million to insurance regulators.

Under the agreement, the company and its affiliates will complete one full comparison of all policyholders against the DMF and will enhance procedures to conduct more thorough searches for beneficiaries, among other business practice reforms.

The goal is to search the DMF records for deceased life insurance policyholders so that its beneficiaries may be paid.   Click here to read…

Originally Posted at LifeHealthPro on September 9, 2013 by Elizabeth Festa.