Life Insurance Locator Service Finds More Than $3.5 Million for Beneficiaries

TOPEKA, Kansas, Nov. 28 -- The Kansas Department of Insurance issued the following news release:

The Life Insurance Policy Locator - launched by the Kansas Insurance Department (KID) through the National Association of Insurance Commissioners (NAIC) - has matched Kansas consumers with policies totaling more than $3.5 million in the past 24 months.

The NAIC launched the free national locator service in November 2016 to make it easier to connect consumers with lost life insurance policies or annuities in Kansas. A total of 298 beneficiaries have been matched with $3,553,805 since November 2016.

"The response we have received to the policy locator has been commendable," said Ken Selzer, CPA, Kansas Commissioner of Insurance. "State regulators want to do everything to protect consumers, and this online tool does that by efficiently connecting consumers with lost policies and possibly money they are owed."

In its first two years, the locator has matched 24,934 consumers nationwide with policies totaling $368 million. In Kansas, a total of 1,047 requests were received during the past two years.

To use the locator, consumers should go online to www.naic.org. When a request is received, the NAIC will do the following:

-Ask participating companies to search their records to determine whether they have a life insurance policy or annuity contract in the name of the deceased.

-Ask participating companies that have policy information to respond to the requester if the requester is the designated beneficiary or is authorized to receive information.

"Our department was a leader in establishing this kind of free service in 2015," Commissioner Selzer said, "and we were happy to integrate our service into the national application for an innovative, technological search. We encourage all Kansans who need this assistance to use the NAIC tool."