(Tallahassee, FL – Insurance News 360) – On Dec. 21, the ? Florida Office of Insurance Regulation (Office), Florida Department of Financial Services, and the Florida Office of the Attorney General announced that  national life claim settlement agreements have been signed with State Fa?rm for $250,000 and Aflac? for $350,000.

These settlement agreements facilitate the use of the Social Security Administration’s Death Master File (DMF) to determine if the insured, annuitant, or account holder is indicated. ? State Farm and Aflac will compare their records with the DMF to see if there are beneficiaries who should be paid death benefits, and remit unclaimed proceeds to the appropriate state authority. Florida’s will get $41,759 from multi-state settlement payments. This covers the costs of the investigations and future compliance monitoring.

Source: Florida Office of Insurance Regulation.