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Unclaimed Insurance Money Links

Insurance Companies are a source of unclaimed money for two primary reasons:

  • Policies held by deceased persons are sometimes unknown to survivors and no death notice is provided to the insurance company
  • Demutualization of "Mutual" insurance companies (see below)

In both cases, after the period of time prescribed by escheat law, if the rightful owner's current address or contact information is unknown, the money will be turned over to the state of record of the policy holder. However, if you have knowledge of or suspect the existence of such a policy you may wish to contact the insurance company directly.


Go to our list of Life Insurance Companies page
A simple list of insurance companies to help you research unclaimed insurance money.

New York Life Unclaimed funds finder A special database provided by New York Life allowing customers to search for unclaimed insurance money.
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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