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DOI Helps Illinois Life Insurance Consumers Collect More than $15 Million in 2019

9/18/2019, noon | Updated on 9/18/2019, noon

DOI Helps Illinois Life Insurance Consumers Collect More than $15 Million in 2019

The Illinois Department of Insurance can help you find out if you’re owed a portion of the millions of dollars in life insurance benefits that go unclaimed every year. So far in 2019, IDOI has helped consumers find and collect more than $15 million from lost or unclaimed life insurance policies.

According to a press release, an estimated 1-in-4 life insurance policies go unpaid when an insured person dies because family members aren’t aware a policy exists, don’t know which company issued it, or can’t find the paperwork.

It’s already the law in Illinois that insurance companies must attempt to locate the beneficiaries of deceased policyholders when life insurance proceeds remain unpaid, but IDOI makes it simple for consumers to search on their own.

Here in Illinois, you can check for unclaimed life insurance policies at these sites:

• IDOI: https://insurance.illinois.gov/Applications/LifePolicyLocator/

• Illinois State Treasurer: https://icash.illinoistreasurer.gov/

• National Association of Insurance Commissioners (NAIC)

Life Insurance Policy Locator: https://eapps.naic.org/life-policy-locator/#/welcome

If you need additional assistance, please contact the Illinois Department of Insurance at DOI.LifePolicyLocator@illinois.gov or call (866) 445-5364.