service aims to help Illinois beneficiaries find lost Life Insurance
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[July 01, 2016]
– Illinois consumers can use a new tool from the Illinois Department
of Insurance (DOI) to find insurance money they may be owed using
the DOI's Life Policy Locator Service starting July 1, 2016.
The Life Policy Locator Service will help executors, legal
representatives, or members of the deceased person’s immediate
family find a life insurance policy or annuity contract left by a
deceased loved one. Acting Director Anne Melissa Dowling asked her
staff to find a way to help Illinois beneficiaries obtain the money
they are owed and bridge the gap between insurance companies and
Illinois citizens who think they may be listed as a beneficiary.
“Many times finding life insurance policies can be difficult and
time consuming after a loved one’s death,” said Dowling. “But with
this new free service, consumers can request help from the Illinois
Department of Insurance to simplify the process of locating lost
life insurance policies. This search service eliminates the
confusion of trying to locate missing life insurance policies or
annuity contracts and helps get those benefits to the intended
After the necessary information is submitted, DOI will contact all
state-licensed life insurance companies asking them to search their
records for any life insurance policies or annuity contracts
insuring the decedent. If a policy is found, that insurance company
will contact the beneficiary to complete the claim.
“I’m delighted that the Department of Insurance will now offer
Illinois consumers a free service to inquire about family policies
that may have been forgotten or uncovered over the years following a
death,” said Dowling.
To learn more about the Lost Life Policy Locator Service, click the
or visit the Illinois Department of Insurance website.
Of note, as of December 31, 2015, the Illinois Department of
Insurance has recovered proceeds for more than 11,000 beneficiaries
worth more than $213 million.
[to top of second
Of note, as of December 31, 2015, the Illinois Department of Insurance has
recovered proceeds for more than 11,000 beneficiaries worth more than $213
About the Illinois Department of Insurance
The Department’s mission is to protect consumers by providing assistance and
information, by efficiently regulating the insurance industry’s market behavior
and financial solvency, and by fostering a competitive insurance marketplace.
The Illinois Department of Insurance assists consumers with all insurance
complaints, including health, auto, life, and homeowner. Consumers in need of
information or assistance should visit the Department’s website at
insurance.illinois.gov or call our toll-free hotline at (866) 445-5364.
[Anjali Julka, Illinois Department of