Mississippians Connected With $1.4 Million From Lost Life Insurance Policies

The Mississippi Department of Insurance issued the following news release:

The Life Insurance Policy Locator -- launched by the Mississippi Insurance Department through the National Association of Insurance Commissioners -- has matched consumers with policies totaling $1,452,178 million in the past 12 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 Mississippi, 232 beneficiaries have been matched with $3,538,544 since November 2016.

"We saw there was a need for a tool like the Life Insurance Policy Locator several years ago," said Insurance Commissioner Mike Chaney. "The tool helps us meet our goal of protecting consumers and connecting them with lost policies and possibly money that they're owed."

In its initial two years, the locator has matched 24,934 consumers with policies, totaling $368 million. More than 48,000 consumers have conducted searches nationwide in that time. During its first year, the policy locator initially found $92.5 million in lost benefits for consumers. As more matches were made to requests from that year, the first-year total has increased to $166.7 million.