Consumers nationwide have located
$92.5 million in lost life insurance policies and annuities since the November
2016 launch of the National Association of Insurance Commissioners (NAIC)
Life Insurance Policy Locator. As previously reported in Agent Headlines, the Delaware
Department of Insurance and Maryland
Insurance Administration are among the state regulators who embraced the
tool, adopting it for their residents.
Throughout the past year, over 40,000 consumers used the policy locator. More than 8,200 of them were matched with a lost or misplaced policy or annuity.
How it works
The NAIC Life Insurance Policy Locator provides nationwide access for assistance with finding life insurance policies and annuities. All consumer requests in the tool are encrypted and secured to maintain confidentiality. Participating insurers compare submitted requests with available policyholder information and report all matches to state insurance departments through the locator. Companies then contact beneficiaries or their authorized representatives.
The NAIC Life Insurance Policy Locator provides nationwide access for assistance with finding life insurance policies and annuities. All consumer requests in the tool are encrypted and secured to maintain confidentiality. Participating insurers compare submitted requests with available policyholder information and report all matches to state insurance departments through the locator. Companies then contact beneficiaries or their authorized representatives.
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