Tenn. Code Ann. § 66-29-114 (2024)

• (a) As used in this section, "death master file" means the federal social security administration death master file or other database or service that is at least as comprehensive as the death master file for determining that a person reportedly has died.

• (b) With respect to a life or endowment insurance policy or annuity contract for which an amount is owed on proof of death, but which has not matured by proof of death of the insured or annuitant, the company has knowledge of the death of an insured or annuitant when:
  • (1) The company receives a death certificate or a court order determining that the insured or annuitant has died;
  • (2) Due diligence performed to maintain contact with the insured or annuitant, or to determine whether the insured or annuitant has died, results in validation of the death of the insured or annuitant;
  • (3) A comparison is conducted by the company for any purpose between a death master file and the names of some or all of the company's insureds or annuitants, and a match is found providing notice that the insured or annuitant has died and the company validates the death;
  • (4) A comparison is conducted by the treasurer or the treasurer's agent for the purpose of finding matches during an examination conducted under § 66-29-157 between a death master file and the names of some or all of the company's insureds or annuitants, and a match is found providing notice that the insured or annuitant has died and the company validates the death; or
  • (5) The company:
    • (A) Receives notice of the death of the insured or annuitant from an administrator, beneficiary, policy owner, relative of the insured, or trustee, or from a personal representative, executor, or other legal representative of the insured's or annuitant's estate; and
    • (B) Validates the death of the insured or annuitant.

• (c) The following provisions apply to a death master file comparison under subdivisions (b)(3) and (4):
  • (1) A death master file match occurs if the criteria for a match are satisfied as provided by the Unclaimed Life Insurance Benefits Act, compiled in title 56, chapter 7, part 34;
  • (2) A death master file match does not constitute proof of death for purposes of submission of a claim by a beneficiary, annuitant, or owner of the policy or contract to an insurance company for amounts due under an insurance policy or annuity contract;
  • (3) A death master file match under subdivision (b)(3) or (b)(4), or validation of the insured's or annuitant's death, does not alter the requirements for a beneficiary, annuitant, or owner of the policy or contract to make a claim to receive proceeds under the terms of the policy or contract; and
  • (4) In the event a death master file match occurs, the insurance company that has a potential obligation as a result of the death of the insured or annuitant shall comply with the requirements of § 56-7-3404(b) upon discovering the match.

• (d) This part does not affect the determination of the extent to which an insurance company before July 1, 2017 had knowledge of the death of an insured or annuitant, or was required to conduct a death master file comparison, or the determination of the extent to which the treasurer or the treasurer's agent before July 1, 2017 was authorized to conduct a comparison for the purpose of finding matches during an examination under § 66-29-157, and to determine whether amounts owed by the company on a life or endowment insurance policy or annuity contract were presumed abandoned or unclaimed. An insurance company shall comply with, and the treasurer or the treasurer's agent may conduct an examination to ensure compliance with, the requirements of § 56-7-3404.

Amended by 2017 Tenn. Acts, ch. 457, s 1, eff. 7/1/2017.

Acts 1978, ch. 561, § 14; 1980, ch. 448, §§ 1, 5; T.C.A., § 64-2914; Acts 1983, ch. 78, §§ 1-3; 1993, ch. 195, §§ 13, 14, 15, 16; 2010 , ch. 791, § 1.