Illinois agency can help find unclaimed life insurance money
Posted September 14, 2019 7:00 am
CHICAGO (AP) - Illinois officials say residents have been able to collect more than $15 million from lost or unclaimed life insurance policies this year with help from the Department of Insurance.
Illinois Department of Insurance Director Robert Muriel says about 25 percent of life insurance policies aren't paid to beneficiaries because family members are unaware of the coverage or don't have necessary paperwork.
Muriel says residents can get help finding insurance policies issued to a deceased family member by filing a request online .
He says insurance companies are legally required to try and locate someone's beneficiaries, but residents who think an insurer failed to pay can get help from the state.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.