Officials are hoping a tool designed to help beneficiaries locate unclaimed life insurance policies will put money in rightful pockets.
Every year, millions of dollars in life insurance benefits go without being acquired by those to whom the money is designated. Sometimes, beneficiaries can’t find their deceased relative’s policies or, in some cases, may not even know the policies exist. To solve this issue, the National Association of Insurance Commissioners created the life insurance policy locator, a free online tool that helps consumers find their deceased loved one’s life insurance policies and annuity contracts.
In 2024, more than 1,600 Mississippians used the life insurance policy locator to find more than $37 million in lost policy benefits. It has helped more than 7,500 local consumers claim more than $161 million in benefits since its inception in November 2016, per data from the Mississippi Insurance Department.
“So far in 2025, more than 1,300 Mississippians have used the tool to collect more than $24 million. The policy locator requests are free and confidential,” Mississippi Insurance Commissioner Mike Chaney said. “Any matches found are reported to insurance companies, and the companies then contact beneficiaries. The locator helps us to meet our goal of protecting consumers.”
Life insurance policies are designed to pay money to the named beneficiaries when one dies. The beneficiaries can be one or more individuals or even an organization. In most cases, policies are purchased by the person whose life is insured, but life insurance policies can be taken out by spouses or anyone who can prove they have an insurable interest in the person.
For those seeking to look into potential unclaimed assets, the life insurance policy locator can be accessed here.
