Treasurer Mike Frerichs
Mike Frerichs
(Sean Powers/WILL)

New Law Makes Insurance Companies Find, Pay Beneficiaries

Illinois Gov. Bruce Rauner has signed legislation to force insurance companies to locate beneficiaries of unclaimed life insurance policies and pay them money they're owed. Democratic Treasurer Michael Frerichs says his office has identified more than $550 million in unpaid benefits owed to Illinois residents.

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