RI seeks owners of unclaimed life insurance money

Treasurer Gina Raimondo speaks at the State Retirement Board meeting on Feb. 14, 2014. (photo: Dan McGowan/WPRI 12)

MIDDLETOWN, R.I. (AP/WPRI) — State General Treasurer Gina Raimondo says the state has nearly $12 million in unclaimed life insurance payouts in the state’s coffers and is inviting residents to find out if they’re owed money.

The candidate for the Democratic nomination for governor told Middletown residents on Wednesday that her office is trying to return the money to its owners.

“Tracking down these unclaimed life insurance proceeds is an example of government working for people, especially in these challenging times,” Raimondo said. “When it came to our attention that life insurance companies may have unclaimed funds due to Rhode Islanders, we stepped in on their behalf to give them an opportunity to recover the money.”

She says a new life insurance database is operating and based on state records, more than 9,000 Rhode Islanders are due money.

To date, she said, close to $2.3 million has been given back to 1,100 people, with about $9.5 million remaining unclaimed by about 8,000 Rhode Islanders.


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