Illinois company might help discover unclaimed life insurance coverage cash | State & Regional
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CHICAGO (AP) — Illinois officers say residents have been capable of acquire greater than $15 million from misplaced or unclaimed life insurance coverage insurance policies this 12 months with assist from the Division of Insurance coverage.
Illinois Division of Insurance coverage Director Robert Muriel says about 25 p.c of life insurance coverage insurance policies aren’t paid to beneficiaries as a result of relations are unaware of the protection or haven’t got essential paperwork.
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Muriel says residents can get assist discovering insurance coverage insurance policies issued to a deceased member of the family by submitting a request on-line .
He says insurance coverage corporations are legally required to attempt to find somebody’s beneficiaries, however residents who assume an insurer did not pay can get assist from the state.
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