Treasurer’s office flooded with claims in response to missing insurance benefits

PROVIDENCE, R.I. (WPRI) — Earlier this week, Call 12 For Action told you about millions of dollars worth of life insurance benefits that were never paid out to beneficiaries.

Since then, many residents have reportedly discovered their missing money.

General Treasurer Seth Magaziner said the response to our first story was overwhelming – because his office has been flooded with claims and calls. But he said there is still a lot of money that’s waiting for its rightful owners.

When we first introduced you to Harriet Landesberg, she had just received a check from an old life insurance policy that had never been paid out.

During her conversation with Call 12 For Action, Landesberg mentioned another policy. Her family did some digging and realized there was actually a second life insurance policy that Harriet was also owed.

“It’s a shame that you have to do the work,” she said.

As we first reported, there is about $20 million worth of life insurance money that’s owed to Rhode Islanders – and billions nationwide. The issue was discovered after audits of the country’s largest life insurance companies.

After our story aired, people flooded to MissingMoney.com and discovered life insurance benefits and other unclaimed property.

“In the last two days, we’ve had more than 1,000 claims,” Magaziner said. “One thousand claims in two days – usually, it takes weeks for us to get 1,000 claims.”

“And more than 100 of them, about 150 of them, were folks who had life insurance available to them that they hadn’t known about before.”

Magaziner said claims are typically paid out within a couple of weeks.

“In the last two days, we have been able to reunite about 1,000 people with more than a million dollars of unclaimed property,” he said.

Are You Owed Life Insurance Money?

It’s easy to search for unclaimed funds. Just go to MissingMoney.com.

You can also find more information through the RI General Treasurer’s website.

Comments are closed.