Michigan DIFS Recovers $8 Million in Unclaimed Life Insurance Benefits
The Michigan Department of Insurance and Financial Services (DIFS) is reminding consumers that it offers a Life Insurance and Annuity Search Service (LIAS) to help locate lost or forgotten life insurance policies or annuities. In 2024, DIFS recovered more than $8 million in unpaid life insurance and annuity benefits for Michigan residents.
“Life insurance and annuity products can provide important financial resources for families after their loved one has passed on,” said DIFS Director Anita Fox. “Often, beneficiaries may not know if a policy exists and the benefits go unclaimed.”
The LIAS program was created in 2016 to help those who cannot find information about their deceased family member’s life insurance policies or annuity contracts. In 2024, DIFS staff processed 1,666 LIAS requests, resulting in more than $8 million for 110 claimants. Since the program’s launch, LIAS has recovered nearly $46 million for Michigan residents.
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DIFS provides various services to help Michiganders with their life insurance or annuity concerns, including:
- Providing publications, shopping tips, locators, and other information about buying life insurance or annuities in Michigan on the DIFS Life and Annuities website.
- Reviewing and acting on consumer complaints involving insurance companies, agencies, and agents.
- Operating the DIFS Call Center, where residents can speak with a live specialist Monday through Friday from 8 a.m. to 5 p.m. by calling 877-999-6442.
For more information on LIAS, consumers can call 877-999-6442, visit Michigan.gov/LIAS, or email [email protected]. A national resource is also available from the National Association of Insurance Commissioners at EApps.NAIC.org/Life-Policy-Locator.
The mission of DIFS is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. The Department also provides consumer protection, outreach, and financial literacy and education services to Michigan residents.
