State Treasurer John Kennedy says audits of life insurance company policies have uncovered more than $31 million in unclaimed property for beneficiaries in the past eight years.
The Treasury Department discovered the benefits after comparing the outstanding policies of a dozen insurance companies with the Social Security Death Master File. The reviews turned up a number of policies, including one $500,000-plus payout, where heirs didn’t realize the policies existed.
The audits are just one component of the Unclaimed Property Program. Since 1972, the Unclaimed Property Program has returned more than $338 million to nearly 570,000 Louisiana citizens.
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Study Urges Rethinking of Disaster Management in Era of Compounding Events 
Global Tech Outage Disrupts Industries, Highlights Online Risks 
Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss 
Surplus Lines Commercial Growth; Fla. Litigation Costs Reach New High in 2023 
