New Online Tool to Search for Life Insurance Benefits Launches
A new online tool, the Life Insurance Policy Locator (http://www.insurance.ca.gov/01-consumers/105-type/6-lifeAnnuity/LocateLifeInsurancePolicy.cfm), is available to help consumers search for possible life insurance policy or annuity proceeds anywhere in the nation.
"Many potential beneficiaries are unaware that they are due life insurance benefits and are unsure where to begin searching for a lost policy," said Insurance Commissioner. "The Life Insurance Policy Locator was created to simplify this process and ensure consumers receive the benefits they are entitled to."
Created by The
The national service provides consumers with search capabilities to help find a deceased person's lost life insurance policies and annuities. An estimated
Consumer requests are encrypted and secured to maintain confidentiality. Participating insurers will compare submitted requests with available policyholder information and report all matches to state insurance departments through the locator. Companies will then contact beneficiaries or their authorized representatives. This service is free of charge.
Prior to utilizing this service, a person is required to conduct a diligent search of the deceased person's records. For tips on searching records, the department urges consumers to visit the
In 2015, life insurers paid more than
The
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