Are You Owed Unclaimed Insurance Benefits?
Consumers now have a new tool from the NAIC (National Association of Insurance Commissioners) to help with a free search for a life insurance policy after the death of a loved one.
It is quite astonishing to see the number of Americans having owned life insurance policies that go unclaimed. Why? Because thousands of people bury their life insurance policies in a drawer and are forgotten. It ultimately ends up in that proverbial “black hole”. You know the old saying, “out of sight...out of mind”.
To make matters worse, family members may not know that they’re listed as beneficiaries on the policy and as a result, BILLIONS of dollars of life insurance benefits go unclaimed. It is agonizing to deal with the emotional and psychological loss of a loved one and then to add the devastating financial loss is insufferable.
Throughout the United States, a staggering $7.4 BILLION is owed, which life insurance companies have agreed to pay in unclaimed benefits according to the Florida OIR (Office of Insurance Regulation). Florida insurance regulators say that $5 billion will go directly to beneficiaries they can find, and the remaining amount will go to the various states’ unclaimed property departments.
Is it possible that you could have been listed as a beneficiary and be among those who are owed money?
What You Need To Know:
Access the NAIC’s free online service to help you locate a loved one's life insurance or annuity information if they die.
Go to: https://eapps.naic.org/life-policy-locator/#/welcome
When you submit your detailed information, the NAIC will reach out to the insurance and annuity companies for a search on your behalf.
To use this online service, you'll need the person's death certificate and your email address. If a policy is found and you're the beneficiary, the person's insurance company will contact you directly.
If you’ve been putting off getting a life insurance policy or need to get more info, go to: life-insurance
Or Call: 772-210-1020 or 833-693-6467 to speak to a Licensed Insurance Agent.