Life insurance payouts and slayer statutes add to family’s burden p3
We are discussing a court decision about life insurance policy payouts under unusual circumstances. Generally, the insurance company pays the beneficiary as soon as it learns of the insured’s death. If the company cannot locate the beneficiary, it retains the payout for a set period of time before turning it over to the state. Florida has been instrumental in holding life insurance companies’ feet to the fire, so to speak, to make sure they actively search for the beneficiary.