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. 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.

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. To learn more about the Lost Life Policy Locator Service, click the following link https://insurance.illinois.gov/Applications/LifePolicyLocator/ 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.