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A simple list of insurance companies to help you research unclaimed insurance money.
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Florida Department of Financial Services List of insurance companies in Receivership (includes link to Receiverships in Other States) Liquidation of an insurance company may have financial consequences to policy holders.
Insurance Company Demutualization Facts
Demutualization generated unclaimed money should eventually be turned over to the state of record of "shareholders". However, if you have owned a policy with one of the companies listed below, you may wish to check directly with the company.
What Is Demutualization?
"Demutualization" refers to a reorganization, in which a mutual insurance company becomes a publicly owned company. The method used is the payment of stock or cash to existing policyholders. The process does not affect policies held by existing customers but may generate "income" for these customers.
Under demutualization, shareholders own the new company. The stock they hold may entitle them to vote and to receive dividends declared on their shares.
Mutual companies usually seek to convert to a stock form of ownership to raise capital and enhance the financial strength of the organization.
In the last twenty years more than 20 life insurance companies underwent demutualization's.
Any mutual insurance company must undergo rigorous regulatory scrutiny and gain the approval to demutualize from the controlling governmental agencies.
Larger Companies Which Have Demutualized:
AmerUS Group Co. - www.amerus.com
Anthem Inc. - www.anthem.com
Canada Life Financial - www.canadalife.com
Indianapolis Life - www.indianapolislife.com
John Hancock Financial Services Inc. - www.johnhancock.com
Manulife Financial - www.manulife.com
MetLife Inc. - www.metlife.com
MONY Group Inc. - www.MONY.com
Phoenix Companies Inc. - www.phoenixwm.phl.com
Principal Financial Inc. - www.principal.com
NationwideProvident - www.nationwideprovident.com
Prudential Financial Inc. - www.prudential.com
StanCorp Financial - www.stancorpfinancial.com
SunLife of Canada - www.sunlife-usa.com
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