(Atlanta) – Hundreds of Georgia consumers are reaping the benefits of an online tool that helps find missing benefits. The Life Insurance Policy Locator was launched last December by the National Association of Insurance Commissioners (NAIC). The free consumer tool has matched 589 Georgia beneficiaries with lost or misplaced life insurance policies or annuities returning $6,617,801.60 to them.
“The response from this application has been tremendous,” says Georgia Insurance Commissioner Ralph Hudgens. “I encourage everyone to log in to see if they have unclaimed money left to them from a deceased family member or loved one.”
Approximately 3,362 consumers have conducted searches for Georgia policies since the Life Insurance Policy Locator Service was launched. Nationally, the consumer tool has matched 8,210 beneficiaries with payouts totaling $92.5 million.
“There are many Georgians who don’t know where to begin when searching for a lost life insurance policy,” says Deputy Insurance Commissioner Jay Florence. “The life insurance policy locator streamlines and simplifies the process for consumers.”
According to Consumer Reports, an estimated $1 billion in benefits from life insurance policies are unclaimed.
