The state of Texas has more than $400,000 it wants to distribute to 2,600 military veterans from an insurance settlement, but finding them is tricky.
So the Texas Department of Insurance is promoting a Web site for veterans to see if they qualify for the money.
The veterans purchased life insurance policies called "Horizon Life" between 2000 and 2006 from American-Amicable Life Insurance Co. of Texas and/or its two affiliates — Pioneer American Insurance and Pioneer Security Life Insurance.
But after selling the policies, the companies were investigated by the TDI, the Georgia Department of Insurance, the U.S. Department of Justice and the U.S. Securities and Exchange Commission. From that, a settlement involving 46 states has already refunded $1.2 million to 7,500 Texas vets.
Along with the National Association of Insurance Commissioners, the TDI wants vets to visit www.naic.org and click on "Military Servicemember Policy Holder Search" on the left side of the page.
From there, vets are asked to type in their first and last names to find out if they qualify. Meanwhile, the NAIC Military Sales Working Group handles complaints about "inappropriate sales activities to the military," according to a TDI news release.
That group’s Web site is www.naic.org/committees_ex_military.htm. — David Lieber
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