Illinois State Treasurer’s Office News Releases

SPRINGFIELD — Families will no longer be victimized by life insurance companies that refuse to pay death benefits, Illinois Treasurer Michael Frerichs said today. His remarks came after the Illinois House passed a measure pushed by Frerichs that requires insurers to use the federal Death Master File list to confirm if an inactive policy holder has died and the death benefits have not been paid. The House passed the proposal 75-34. The proposal now goes to the Senate, where insurance companies are lobbying for a weaker version. “I have never…

SPRINGFIELD — A statewide newsprint advertising push begins this week to reunite Central Illinois residents with $156 million in unclaimed property, Illinois Treasurer Michael Frerichs said today, including one Central Illinois resident who could claim more than $200,000. Frerichs drew attention to the advertising blitz to reassure residents that the unclaimed property effort is legitimate and not an elaborate hoax. The Treasurer’s Office never charges a fee to search and return unclaimed property. “For most people, it is difficult to believe that they might have overlooked an investment account or…