WASHINGTON, Sept. 25, 2024 – The National Association of Insurance Commissioners (NAIC) today announced a significant milestone for its Life Insurance Policy Locator. Since its launch in November 2016, the free online tool has helped consumers locate and claim more than $10 billion in unclaimed benefits from life insurance policies and annuities.
“Life insurance is a critical tool for closing financial protection gaps,” said Andrew N. Mais, NAIC President and Connecticut Insurance Department Commissioner. “Many people may not realize they are beneficiaries or even that a policy exists. This tool bridges that gap, providing consumers with vital support when they need it most.”
The NAIC-maintained tool has processed 886,727 requests nationwide, resulting in 460,952 matches. These matches have led to reported claim amounts totaling $10,117,434,892 through August 31, 2024.
The Life Insurance Policy Locator is a free and secure service. Participating insurance companies are responsible for contacting beneficiaries and reporting matches to state insurance departments.
How to Utilize the Policy Locator
The tool is easily accessible online [here](link to the tool if available).
To start the process:
- Review the welcome page and agree to the terms.
- Enter your name and address.
- Submit a search request using the deceased’s information:
- Social Security number
- Legal first and last name
- Date of birth
- Date of death
- Relationship to the deceased
After submitting all required information, your request is securely stored in an encrypted database. Participating insurance and annuity companies then access this information through a secure portal. Users receive a “Do Not Reply” email confirming their request. If a policy match is found, the insurance or annuity company will contact the beneficiary directly.
Eligibility and Requirements
The service is available to anyone, including beneficiaries and legal representatives, at no charge. The NAIC also offers resources such as the Life Insurance Buyer’s Guide to assist consumers with purchasing life insurance.
If a policy is located, beneficiaries typically need:
- A certified death certificate
- The company’s claim form
Search Completion Time
It can take 90 business days, or longer, to complete the search. Users will not receive a response if no matches are found, or if the requester is not the beneficiary or lacks legal authority to obtain policy information.
About the National Association of Insurance Commissioners
As part of the state-based system of insurance regulation in the U.S., the NAIC provides expertise, data, and analysis to insurance commissioners, effectively regulating the industry and protecting consumers. The NAIC is governed by chief insurance regulators from all 50 states, the District of Columbia, and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight.
NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.
