TALLAHASSEE, FLA. -- The MetLife insurance companies have agreed to pay $40 million to settle allegations over their use of the Social Security Administration's so-called "death list."
MetLife also settled with Florida and several other states to change the way it uses the master list of the dead from the Social Security Administration.
Florida Insurance Commissioner Kevin McCarty says the MetLife companies were using the list to purge the names of anyone receiving annuity payments ... but they were NOT using it to pay off life insurance policies when someone died.
He said the settlement should help make people whole and restore confidence in purchasing insurance products.
""We're going to make sure that a promise made to consumers is a promise kept," he said.
He said the issue involved the "selective use" of the database.
The settlement, which involved several states that included Florida, is considered a landmark by McCarty's office.