Money waiting to be claimed: Forgotten life insurance policies

Billions of dollars from misplaced or forgotten life insurance policies are waiting to be claimed by the rightful owners.

In a special Tuesday-morning edition of FOX8 On Your Side, Melissa Painter explains how to find out if there is money waiting for you.

Melissa’s advice:

  1. First, check with the state government.  Insurance companies will turn benefits over to the unclaimed property office.  To search records for 38 states, go to missingmoney.com.  The service is free, but you will need to prove your claim.
  2. In case the policy hasn’t been turned over to the state, Consumer Reports tells us you should go ahead and contact the insurer.  Many of the major insurance companies have online tools to let you search for policies:  johnhancock.com | metlife.com | AIG: 800-888-2452 | Forethought: 800-331-8853 | Nationwide: 800-848-6331 | Prudential: 800-778-2255
  3. If you also want to have the estate executor search personal records, look for records of premium payments and contact the deceased’s employers, labor union and even fraternal order.
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