CONSUMER ALERT – August 11, 2023
CONNECTICUT INSURANCE DEPARTMENT HELPS LIFE INSURANCE CONSUMERS
FIND MORE THAN $25 MILLION IN BENEFITS
Online Tool Helps Families Find Old Life Insurance Policies
The Connecticut Insurance Department (CID) has assisted consumers in locating a total policy face amount of over $25 million from lost or unclaimed life insurance policies in 2022, utilizing the free online Life Insurance Policy Locator.
Developed by the National Association of Insurance Commissioners (NAIC), the locator tool facilitates the connection between consumers and lost life insurance policies and annuity contracts of their deceased loved ones. Consumer requests to find a lost policy are encrypted and secured to maintain confidentiality. Participating insurers will compare submitted requests with available policyholder information and report all matches to state insurance departments through the locator. Companies will then contact beneficiaries or their authorized representatives within 90 days.