KID

TOPEKA — Ken Selzer, CPA, Kansas Commissioner of Insurance, is urging Kansans trying to find lost insurance policies to use the free Life Insurance Policy Locator Service offered by the National Association of Insurance Commissioners (NAIC).

“More than 8,000 beneficiaries nationwide found lost life insurance benefits entitled to them during the service’s first year,” Commissioner Selzer said. “That allowed them to secure money that had been designated to them by friends and loved ones, but somehow had been lost and unclaimed.”

The NAIC’s service is available by going to the organization’s website, www.naic.org. When a request is received, the NAIC will:

• Ask participating companies to search their records to determine whether they have a life insurance policy or annuity contract in the name of the deceased.
• Ask participating companies that have policy information to respond to the requester if the requester is the designated beneficiary or is authorized to receive information.

The locator service found $92.5 million for consumers in its first year of operation. The Kansas Insurance Department (KID) participates in the national service; however, KID had launched its own locator service in 2015, more than a year before the NAIC service was available.

“Our department was a leader in establishing this kind of free service in 2015,” Commissioner Selzer said, “and we were happy to integrate our service into the national application for an innovative, technological search. We encourage all Kansans who need this assistance to use the NAIC tool.”