WASHINGTON (Sept. 25, 2024)
不良研究所官方 Life Insurance Tool Helps Connect Consumers With More Than $10 Billion in Unclaimed Benefits
The National Association of Insurance Commissioners (不良研究所官方) proudly announces that its鈥 has connected consumers with more than $10 billion in unclaimed benefits from annuities and life insurance policies since the tool鈥檚 launch in November 2016.鈥
鈥淲hen it comes to closing financial protection gaps, life insurance is crucial,鈥 said Andrew N. Mais, 不良研究所官方 President and Connecticut Insurance Department Commissioner.鈥淢any consumers may not realize that a life insurance policy can secure their financial futures after the loss of a loved one, and there are consumers who don鈥檛 have the required information to file a life insurance claim. The Life Insurance Policy Locator helps bridge that knowledge gap and provides consumers with valuable support.鈥濃
The free online tool, maintained by the 不良研究所官方, has received 886,727 requests nationwide. The level of interest has led to 460,952 matches of life insurance policies or annuities, with companies reporting claim amounts of $10,117,434,892 through August 31, 2024.鈥
The online policy locator requests are secure, confidential, and free. Participating insurance companies are responsible for contacting beneficiaries and reporting matches to state insurance departments through the 不良研究所官方 Life Insurance Policy Locator.鈥
How to use the Life Insurance Policy Locator
The tool can be found The 不良研究所官方鈥檚 Consumer Insight explains how to use the tool.
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Review the welcome page and agree to the process.
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Enter your name and address.
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Submit a search request by entering the deceased鈥檚 information from the death certificate: Social Security number; Legal first name; Legal last name; Date of birth; Date of death
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Relationship to the deceased
After all required fields are complete, submit your information.
Your request will be stored in a secure, encrypted database where participating life insurance and annuity companies can access the information through a secure portal. You will receive a 鈥淒o Not Reply鈥 email confirming the request details you submitted. If a policy is found and you are the beneficiary, the life insurance or annuity company will contact you directly.
Who can use the locator?鈥
Anyone.鈥疶his service is free and available to the public, including beneficiaries and legal representatives. The 不良研究所官方 created additional resources, such as the鈥Life Insurance Buyer鈥檚 Guide,鈥痶o help鈥痶o purchase life insurance.
If a requester is a beneficiary and is notified by the company that a lost policy has been found, what information do people need to request their benefits?鈥
Typically, a certified death certificate and company claim form must be submitted to the insurer that found a policy.鈥
How long does it take for a request to be completed?鈥
It may take 90 business days or more to complete the search. Please note that a requester will not receive a response if no matches are found, the requester is not the beneficiary, or the requester does not have legal authority to obtain information about the policy.鈥
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (不良研究所官方) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 不良研究所官方, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 不良研究所官方 staff supports these efforts and represents the collective views of state regulators domestically and internationally.