Life Insurance Policy Locator Service Returns $17 Million In First 6 Months
The National Association of Insurance Commissioners (NAIC) has announced through a press release that it's new Policy locator service has returned $17 million in it's first 6 months of operation.
The policy locator service is being utilized to help reduce the number of unclaimed policies across the country.
The "tool is being used to connect consumers with lost, unknown or unclaimed benefits " said ted Nickel NAIC President. The organization expects use of the locator to grow as more people find out about the service.
The locator generated over 15000 request since it's launch in November,2016.
The locator helps recover lost life insurance policies and annuities of deceased persons for their beneficiaries.