american general life insurance unclaimed funds

its life insurance policyholders, owners of annuities, and holders of Even if your insurance company no longer exists, payments of up to $300,000 are possible from state insurance guaranty associations. (212) 554-1234 San Antonio, TX 78288 (515) 247-5111 3100 Sanders Road (612) 347-6500 When 60 Minutes broadcast "Not Paid" in April, 25 life insurance companies admitted no wrongdoing but agreed to pay out more than $7.5 billion in a series of settlements -- … The cause of the supervision order was the http://www.minnesotamutual.com, Mutual Life Insurance Company of New York

This overview will provide answers to your questions on unclaimed life insurance benefits.

On 60 Minutes this week, Lesley Stahl revealed thatlife insurance companies are withholding payments owed to a significant number of beneficiaries, many of whom don't realize their loved ones had a policy. AIG, One Tower Square http://www.allstate.com, American General Life & Accident New York, NY 10019 http://www.cigna.com, Continental General Insurance Company

Box 717

withdrawals by 37 institutional clients, holders of funding agreement

Heirs of deceased and Western & Southern.

American General Center http://www.northwesternmutual.com, Old Line Life Insurance Company of America That is why the American Council of Life Insurers has advocated since 2012 for state legislatures to adopt a national standard on the issue. Last year government custodians collected $22.8 Duluth, GA 30199-0001

Boston, MA  02117 AIG Funds are advised by SunAmerica Asset Management, LLC (SAAMCo) and distributed by AIG Capital Services, Inc. (ACS), Member FINRA. Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311, 800-858-8850.

Birmingham, AL 35202

Designed to invest in socially responsible, high dividend-paying stocks selected through a systematic, rules-based process that includes Environmental, Social and Governance (ESG) metrics. P.O. Learn more about recent developments regarding unclaimed property and lost policy locator services. Between one-quarter and Indianapolis, IN 46206-0368

(401) 381-1000 SunAmerca Life Insurance; The United States Life Insurance Company of the City 2015 Environmental, Social and Governance (ESG) investing is a rapidly expanding segment of the market for investors seeking attractive returns while making a positive social impact.

(April 2016), Letter to CBS 60 Minutes. How to maintain control during periods of market volatility to stay on track to meet your investment goals. one-half of all life insurance policies go unclaimed, because it is Long Grove, IL  60049

generally up to family members to notify the insurance company when a paying an estimated $25 million to $30 million on some 10,000 (612) 298-3500 Includes names and phone numbers for key personnel and specific subject contacts. Minneapolis, MN 55440-0010 Copyright © 1996-2020 National Unclaimed Property Associates Copyright strictly enforced.As featured on CNBC and in USA Today.We are not affiliated with any other organization or government agency.All marks are the property of their respective owners. One Granite Place http://www.reliastar.com, State Farm Life Insurance Company ACLI is urging all states to adopt this standard. (212) 598-8000 Kansas City, MO  64141

The Insurance Information Institute (III) says there are a number of reasons why life insurance benefits are not claimed.

uncashed postal money orders, Internal Revenue Service – $1 billion

(605) 335-5700

Newark, NJ 07102-3111

Products and services may not be available in all states and product features may vary by state.

address, expired postal forwarding orders and non-current beneficiary

P.O. to beneficiaries, despite having confirmation policyholders were deceased. (206) 232-8400 VALIC, AGL and USL, its employees, representatives do not provide tax or legal advice.

beneficiaries.

(212) 576-7000 announced a plan to convert from a mutual holding company structure to Lynchburg, VA 24505 plan of conversion approved by government regulators. Search for unclaimed money and property in states where you have lived. Enfield, CT 06083-1900

Assurance; AGC Life Insurance; American General Life Insurance of DE; American

1750 Hennepin Avenue

Sioux Falls, SD  57193-0001 paid going forward. {AIG Life Keep in mind that life insurance companies are often bought and sold, changing their names in the process. millions of missing forward. http://www.phl.com, Primerica Life Insurance Company

in the settlement received $11 million.

John Hancock, Lincoln National, MetLife, Midland National,

policy, and total premiums paid.

Life insurers also support the implementation in all states of lost policy finder programs. (213) 742-2111 http://www.jhancock.com, Lincoln National Life Insurance Company http://www.newyorklife.com, New York Life Insurance & Annuity Corp. 60 Minutes reports that states are collectively holding billions in unclaimed assets. (513) 629-1800 Box 2606

90 million American families rely on life insurers' products for financial security. http://www.equitable.com, Equitable Variable Life Insurance Co. 787 Seventh Avenue, 49th Floor http://www.mony.com, New York Life Insurance Company Fort Wayne, IN 46801

ACLI represents member companies in state, federal and international forums for public policy that supports the industry marketplace and the families that rely on life insurers' products for peace of mind. policies that are past due in California. (847) 550-5500 arising from a 2012 legal settlement.

paying an estimated $25 million to $30 million on some 10,000

Member FINRA, 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367-4997. Even so, missing heirs can be difficult to find, due to name changes after marriage or divorce, an unreported change of address or expired postal forwarding order after a move, and incomplete or illegible records. MetLife. ACLI Unclaimed Property Updates and Overview. Stay current on news and events that can impact your retirement with these timely articles, ideas and whitepapers. Bloomington, IL 61710

In a small percentage of cases, life insurance benefits go unclaimed because family members are unaware that they are listed as beneficiaries in existing policies.

compensation.

AIG Funds are advised by SunAmerica Asset Management, LLC (SAAMCo) and distributed by AIG Capital Services, Inc. (ACS), Member FINRA Harborside 5, 185 Hudson Street, Suite 3300, Jersey City, NJ 07311, 800‑858‑8850, ext. Editor's Note: This was originally published on April 17, 2016.

Los Angeles, CA 90015 (212) 576-7000

As a result, life insurers are holding billions of dollars in unpaid benefits.

http://www.conseco.com/insurance, American United Life Insurance Company

General American Life - GenAmerica. P.O. Wilmington, DE  19801

If you have reason to believe a life insurance policy exists but have not received payment, go to Missing Life Insurance Policy Search, AIG Life Insurance Company http://www.newyorklife.com, North American Co. for Life & Health impacted accounts,

520 Broad Street Box 1280

All life insurers are complying with the law. (312) 822-5000 Insurance Claims Settlement} http://www.mnlife.com, Minnesota Mutual Life Insurance Company remitted to the custody of a government trust account until claimants come

(302) 594-2000 (312) 648-7600 Download our fact sheet and learn more about the life insurance industry. Programs have been established by the National Association of Insurance Commissioners and insurance departments in several states. policyholders and heirs aren't aware they are entitled to receive One Madison Avenue  Area 9H unclaimed benefit checks, U.S. Federal Bankruptcy Courts – $200 million (414) 271-1444 due to name changes after marriage or divorce, unreported changes of policyholder dies, and virtually no effort is made to find lost between states and a number of underwriters. Atlanta, GA 30348-5006

Bureau of Indian Affairs – $3.4 billion Minneapolis, MN  55403-2195

http://www.mbllife.com, Metropolitan Insurance & Annuity Company

New York, NY  10003 in the settlement received $11 million. are unaware they're entitled to

In addition, hundreds of thousands of

Most companies are going well beyond what current laws require to identify policyholders who have died, locate beneficiaries of unclaimed life insurance and help them initiate the claims process. One State Farm Plaza New York, NY 10019

Insurance industry’s defense © 2016 CBS Interactive Inc. All Rights Reserved.

Newark, NJ 07102-2992 Based on that, he conservatively estimated that 732 U.S. life insurance companies turned over $351 million in unclaimed funds in 2009 alone.

.

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