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New tool helps Tennesseans locate life insurance policies – WBBJ TV – WBBJ-TV

JACKSON, Tenn. — There is a new locator service Tennesseans can use to locate a life insurance policy.

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If you are looking to have life insurance money returned to you, you may want to start by using this locator service.

The Tennessee Department of Commerce & Insurance has announced that over $22.8 million was located and returned to Tennesseans all by using the National Association of Insurance Commissioners Life Insurance Policy Locator Service.

In 2020, over $10 million was returned to policyholders as a result of an investigation for unclaimed or denied life insurance by companies. And over $12 million was located using the NAIC Insurance Policy Locator.

“So that’s money that went right back into people’s pockets from restitution, and that’s money that was located through the Life Insurance Policy Locator Service,” said Kevin Walters, the Communications Director for the TDCI.

Walters says it’s important to use the locator, especially for families who have recently lost a loved one. He says it is because it can help collect money you probably didn’t know was there.

“The person who bought the life insurance policy intended for the life insurance to pay off for his or her relatives. They bought that policy trying to think about their future. That life insurance policy is there to take care of the people that are left behind,” Walters said.

Walters also says consumers who have questions about their insurance policies or want to file a complaint can contact the TDCI Consumer Insurance Services team.

For more information on how you can locate you unclaimed or denied life insurance you can access the locator here.

You can also contact the TDCI Consumer Insurance Services team at (615) 741- 2218 or 1-800-342-4029 or visit their website.

Source: Google | Insurance News

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