Site connects consumers with millions owed by insurance policies

Site connects consumers with millions owed by insurance policies
Hundreds of Alabamians have been matched with $4.4 million in insurance policy awards in the past year using a free tool offered by the state. (Source: Pixabay)

MONTGOMERY, AL (WSFA) - Hundreds of Alabamians have been matched with $4.4 million in insurance policy awards in the past year using a free tool offered by the state.

The Life Insurance Policy Locator makes it easier for consumers to determine if they are beneficiaries of lost life insurance policies or annuities, the Alabama Department of Insurance said on Thursday.

The free national locator service was launched in November of 2016 to make it easier for people to find out if they benefit from policies.

In Alabama, 460 beneficiaries have been matched with $6.4 million since the tool launched in November of 2016, the state said.

“The Life Insurance Policy Locator has connected hundreds of Alabamians with money they are owed,” Insurance Commissioner Jim Ridling said. “We hope everyone who may be a beneficiary will utilize this helpful, free tool.”

To use the Life Insurance Policy Locator, visit the Alabama Department of Insurance website.

In its initial two years, the locator has matched 24,934 Americans with policies totaling $366 million. More than 48,000 consumers have conducted searches nationwide, the state said.

Copyright 2018 WSFA 12 News. All rights reserved.