Consumer Advisory: Life insurance policy locator finds nearly $12 million for Colorado consumers

Nationwide, $650 million in life insurance found for consumers.

Since its inception in 2016, the Life Insurance Policy Locator has found nearly $12 million for Coloradans in lost life insurance policies or annuities. The locator is available on the website of the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies.

Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their deceased loved ones’ policies, or in some cases may not even know the policies exist. The locator connects consumers with those lost policies.

This free online tool, maintained by the National Association of Insurance Commissioners (NAIC), has received 2,797 requests from Coloradans since November 2016, which turned up 796 matches of lost or misplaced life insurance policies or annuities, with claims amounts of $11,970,835 through July 31, 2019. Nationwide, 145,432 requests have led to 46,665 matches with claim amounts of $650,520,451 over the same time.

The policy locator requests are secure, confidential and free. Any matches found by participating insurers are reported to the Division of Insurance through the NAIC Life Policy Locator. The insurance companies then are responsible for contacting beneficiaries.

Find more information and the locator itself on the DOI’s “Life Insurance Policy Locator” page.

For more information call 303-894-7499.

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