September is Life Insurance Awareness Month
Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their loved ones’ policies or in some cases may not even know the policies exist. The Life Insurance Policy Locator is a free tool, maintained by the National Association of Insurance Commissioners (NAIC).
It 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 – 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,” 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.”
The policy locator requests are secure, confidential and free. Any matches found by participating insurers are reported to insurance companies. The companies then are responsible for contacting beneficiaries.
You can find out more about the Life Insurance Policy Locator here: https://eapps.naic.org/life-policy-locator/