MS SB2796

Creates the "Unclaimed Life Insurance Benefits Act" requiring insurers to compare in-force policies, annuities, and retained asset accounts against the Social Security Administration's Death Master File at least semiannually to identify deceased persons.

Requires insurers to complete a good-faith effort to confirm death within 90 days and take reasonable steps to locate and contact beneficiaries, with documented efforts required.

Provides that once proceeds are reported and remitted to the state, insurers are indemnified from all liability relating to those proceeds, and remitted funds are deposited in the Abandoned Property Fund.

Prohibits the Insurance Commissioner and State Treasurer from promulgating rules or regulations that impose additional duties on insurers beyond those explicitly stated in the act.

Establishes that unclaimed United States savings bonds escheat to Mississippi three years after becoming unclaimed property, with the State Treasurer redeeming the bonds and depositing proceeds in the General Fund.