Mississippi Insurance Commissioner Mike Chaney is encouraging residents to utilize the life insurance policy locator to track down benefits that may have been unclaimed.
Each year, millions of dollars in benefits go unclaimed by beneficiaries who are unable to find their loved ones’ policies. In some cases, the beneficiaries do not even know the policies exist.
The life insurance policy locator is a free tool, maintained by the National Association of Insurance Commissioners.
The resource has helped more than 3,500 Mississippi consumers claim more than $72 million in benefits since its inception in November 2016.
From August 1, 2022, through August 1, 2023, nearly 1,500 Mississippians have used the tool. Those who were successful in locating a life insurance policy found more than $36 million in that 12-month span.
“Without the life insurance policy locator, insurance benefits may have gone unclaimed,” Chaney stated. “The tool helps us meet our goal of protecting consumers and connecting them with lost policies and possibly money that they’re owed.”
The policy locator requests are secure, confidential, and free. Any matches found by participating insurers are reported to insurance companies.
Insurance companies are then responsible for contacting beneficiaries.
