The largest non-government holder of unclaimed money are Life Insurance companies. Almost 30% of all life insurance benefits in excess of $500,000,000 go unpaid or unclaimed upon the death of the policyholder. Family members don't notify the insurance company simply because they not aware the deceased person might have had more than one policy. As a result, life insurance companies become separated from their policyholders and the beneficiaries- usually because they have not been notified of name or address change.

Also many states do not presume abandonment of life insurance policies until the insured policyholder would have reached the age of over 100 years. As a result, this type of unclaimed assets may not show up in a government database for some time. It is the responsibility of the beneficiary to contact the life insurance company and there is no central database to search such.

Another source of unclaimed money with life insurance companies has been the recent demutualization of some of the largest insurance companies. Demutualization refers to a reorganization in which a mutual insurance company becomes a stock company. This is accomplished through the payment of stock or cash to the policyholders upon the discontinuation of the mutual company. This reorganization has no impact on the actual life insurance policy.

Government Agencies have demanded these unclaimed policies be turned over. Our database and membership resources contains millions of unclaimed Life Insurance policies and we will be added more as more policies are escheated for policyholders heirs to claim.

Connecticut as the capital of the Insurance industry is holding 100,000s of unclaimed life insurance policies due to demutualization and mergers. We have a separate database for these unclaimed accounts.