Find a lost life insurance policy. Claim missing life insurance policy benefits

Missing Life Insurance - Unclaimed Policy Benefits & Demutualization Payments

 

Lost Life Insurance Policy Search  -  Unclaimed Demutualization Payments


Between one-quarter and one-half of all life insurance policies go unclaimed, because it is generally up to family members to notify the insurance company when a policyholder dies, and virtually no effort is made to find lost beneficiaries.

In addition to policy benefits, many policyholders are entitled to demutualization compensation. Demutualization is the process of converting a mutual life insurance company, owned by its policyholders, to a publicly traded stock company owned by shareholders, pursuant to a plan of conversion approved by government regulators.

Many of the nation's oldest and largest life insurers began as mutual insurance companies. In recent years, however, a growing number - including Prudential, John Hancock, MetLife, Principal, Mutual of New York and dozens of others - have demutualized.

Mutual life policyholders (and heirs) continue to be entitled to receive whatever policy benefits may be due, but in addition receive stock, cash and/or policy credits in exchange for their ownership interest in the old mutual insurance company.

Search for a lost life insurance policy

Click binoculars to initiate a search for a lost life insurance policy
 or
select an underwriter from the list below:

The amount paid to each policyholder is based on a number of factors, including length of time the policy has been in force, face value of the policy, and total premiums paid. For many policyholders, the windfall arising from demutualization can be substantial, but millions of missing policyholders and heirs aren't aware they are entitled to receive demutualization compensation.

When John Hancock demutualized, it did not have current addressed for 400,000 policyholders. Prudential could not find 1.2 million policyholders entitled to receive compensation, and MetLife estimates 60 million shares of stock arising from its demutualization - worth billions of dollars - went unclaimed. Contact efforts were unsuccessful, due to name changes after marriage or divorce, unreported changes of address, expired postal forwarding orders and non-current beneficiary information.

By law, unclaimed policy benefits, including demutualization compensation, are remitted to the custody of a government trust account until claimants come forward. Government custodians recently collected $22.8 billion in a single year, of which less than $1 billion was reclaimed. The total amount currently outstanding - $62 billion.

It is highly recommended that current and former policyholders and heirs - the majority of whom are unaware they're entitled to unclaimed policy benefits, stock &  cash - initiate an Unclaimed Life Insurance Policy Search


American Mutual Life / Amerus ManuLife / Manufacturers Life Principal Mutual Life
Anthem WellPoint MetLife / Metropolitan Life Provident Mutual Life
Central Life Assurance MONY / Mutual of New York Prudential Life
Equitable / Axa Mutual Service Life Standard Insurance
General American Life Nationwide / Allied Mutual State Mutual / Allmerica
Indianapolis Life Northwestern / ReliaStar Sun Life / Clarica
John Hancock Life Phoenix Home Life Unum Mutual / Unum

SITEMAP TERMS OF USE E-MAIL FAQ HOME

2014 DEMUTUALIZATION CLAIMS CLEARINGHOUSE