Nationwide Life Insurance Unclaimed Policy Benefits Search

Nationwide Life  Insurance Settlement for Missing Beneficiaries and Lost Heirs

Nationwide Life Insurance Claims

Unclaimed property audits undertaken by a number of states revealed many major life insurance companies failed to pay death benefits to beneficiaries, despite having confirmation policyholders were deceased. Additionally, some companies continued charging premiums, deducting payments from the policies' cash reserves until depleted, at which time the policy would be cancelled.

Insurance Companies participating in the Global Life Insurance Settlement  include: AIG, Allianz, Aviva, Forethought, Genworth, Hartford, ING, John Hancock, Lincoln National, MetLife, Midland National, Nationwide, New York Life, Northwest Mutual, Pacific Life, Prudential, Symetra, TIAA-CREF, Transamerica and Western & Southern.

Nationwide: Nationwide companies include: Nationwide Financial Services, Nationwide Life and Annuity Insurance Company, Nationwide Life Insurance Company, Nationwide Life Insurance Company of America and Nationwide Life and Annuity Insurance Company of America.

In the event Nationwide  finds a policyholder is deceased and no contact with a beneficiary has been established established, the company will remit the policy proceeds to a government custodian, where they will be held available to be reclaimed in the future.

Under the agreement {Nationwide Insurance Claims Settlement} Nationwide will restore the full value of impacted accounts; fully comply with state unclaimed property statutes going forward, using the date of death in the Social Security Administration’s Death Master File to establish the start of the three-year unclaimed property dormancy period on unclaimed benefits.

In addition the company will pay the State of California three percent compounded interest on the value of the held amounts from 1995, or from the date of the owner’s death, whichever is later, for failure to comply with unclaimed property laws.

Note Nationwide policyholders, by virtue of the company's demutualization in 2002, may be entitled to collect cash and stock in addition to policy benefits. Go to: Nationwide Demutualization Compensation