Missing out on money from unclaimed life insurance? Georgia wants you to check

Dec. 13--A sliver of a billion dollar pie could be awaiting your family.

Consumer Reports estimates that hundreds of millions of dollars in life insurance policies go unclaimed.

Georgia Insurance Commissioner Ralph Hudgens is announcing a free service to help people track a deceased loved one's benefits.

"There are many Georgians who don't know where to begin when searching for a lost life insurance policy," said Hudgens, who is partnering with the National Association of Insurance Commissioners to promote the Life Insurance Policy Locator.

The NAIC's website can help people across the country find insurance policies and annuities, according to a news release from Hudgens' office.

Hudgens suggests that potential beneficiaries search through the deceased person's records first, contact previous employers and review bank accounts.

Last year, life insurers paid more than $74 billion in policy benefits nationwide.

The Georgia Department of Insurance has entered into 23 multistate regulatory actions that brought a total of $191,000,000 to more than 9,500 Georgians since 2012.

If you have questions about searching for unclaimed benefits, visit www.oci.ga.gov or call 800-656-2298.

Liz Fabian: 478-744-4303, @liz_lines

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