User Login    
 + Register
PDQ Cleaning
News : State Treasurer attempts to return unclaimed life insurance proceeds to owners of the policies
Posted by John on 2012/10/23 17:48:23 (2087 reads) News by the same author

State Treasurer Clint Zweifel has now received more than $11.2 million in unclaimed life insurance policies. Missourians can search www.ShowMeMoney.com to find policies that may belong to them. See the general list by regions in the state under "read more"


State Treasurer Clint Zweifel (ZWY-ful) has now received more than $11.2 million in unclaimed insurance benefits from life insurance companies. The benefits being turned over are a result of multistate audits of the insurance industry. Many insurance companies used the Social Security Death Index to stop annuity benefit payments but they did not use the same tool to determine which life insurance policies were payable or to help them find the listed beneficiaries. Most recently, Prudential has turned over more than $2.5 million for 810 accounts in unclaimed life insurance benefits. MetLife has turned over more than $5.8 million for 5,553 accounts.
“These insurance companies did little to find the owners of these unclaimed benefits or their heirs, but now my Unclaimed Property team and I are working to do just that,” Treasurer Zweifel said. “My staff works hard every day to find the owners of the property I am entrusted to oversee. In fact, I have more than $700 million waiting for more than 4.3 million account holders right now. This includes the insurance benefits as well as old bank accounts, refund checks, safe deposit boxes and more. I encourage Missourians to search regularly or sign-up for email notifications at www.ShowMeMoney.com.”
In April, it was announced more than $2 million in unclaimed insurance benefits from 1,501 accounts would be turned over to Treasurer Zweifel. The unclaimed benefits result from instances where beneficiaries could not be found or were deceased following the insurance policy owner’s death. All unclaimed benefits may be found on www.ShowMeMoney.com., and there is no charge for their return. As accounts from major insurance companies in the United States continue to be discovered, more accounts and money will be turned over to Treasurer Zweifel as Unclaimed Property. In the short time that Treasurer Zweifel has been custodian of the funds, he has returned nearly $175,000 to nearly 175 account owners from the Unclaimed Property insurance benefits. The amount returned will continue to grow as staff works to reunite owners or heirs with their funds.

Following is an overview of the Unclaimed Property yet to be claimed in each region:

Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $98.6 million in more than 785,000 accounts.

Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade,
Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $24.2 million in more than 279,000 accounts.

Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $7.1 million in more than 75,000 accounts.

Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $9 million in more than 94,000 accounts.

Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison,
Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve,Stoddard, Wayne): $14.5 million in more than 179,000 accounts.

Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory,
Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $34.9 million in more than 404,000 accounts.

St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis
County, Warren, Washington): $202.4 million in more than 1.3 million accounts.

About Treasurer Zweifel’s Unclaimed Property
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel does not handle real property such as land and houses or certain types of personal property such as cars and boats. There is $700 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.

Printer Friendly Page Send this Story to a Friend Create a PDF from the article


Other articles
2014/11/25 7:36:07 - University City, Mo. Officer Shot In Chest, Woman Dies
2014/11/25 6:24:44 - Cameron Man Injured In Single Vehicle Accident: Accused Of DUI
2014/11/25 6:22:00 - Lighting Contest To Be Held In Mercer County
2014/11/25 6:20:00 - NCMC Softball Signs Platte County Recruit
2014/11/25 4:35:59 - Man Fighting For His Life After Being Run Over At McDonald's Drive-Thru
2014/11/25 4:23:44 - 17-Year Old Suspect Charged With Murdering His Grandmother Pleads Insanity
2014/11/25 4:20:11 - Missouri Lottery Will Advertise In Fortune Cookies
2014/11/25 4:17:38 - 17-Year Old Arrested: Robbed Shop With Airsoft Gun
2014/11/25 4:09:06 - Family Upset Officers Used Deadly Force Against Suicidal Teen
2014/11/25 4:00:00 - Police: Video Of Officer Shooting 12-Year Old Boy Is 'Clear'
2014/11/25 3:59:18 - With No Indictment, Chaos Fills Ferguson Streets
2014/11/24 17:20:58 - Princeton Boys Seeded #2 For Albany Tournament
2014/11/24 16:50:00 - Milan To Open 2014-2015 Basketball Season At Novinger Tournament
2014/11/24 12:00:25 - Trenton Boys Sweep Cameron Jamboree, Prepare For East Buchanan
2014/11/24 11:32:36 - KC Chiefs Add Receiving Depth, Signing Jason Avant
2014/11/24 11:21:24 - Gallatin Girls, Trenton Boys Earn #1 Seeds At Gallatin Tourney
2014/11/24 10:52:24 - Michaelis Notches Career High 17, Mizzou Falls To #14 California
2014/11/24 10:41:08 - Trenton Girls Open Season With Home Jamboree
2014/11/24 10:00:00 - Furious Last Minute Rally Moves NCMC Men To 8-1
2014/11/24 9:50:26 - Holiday Parade Winners At Chillicothe Announced
2014/11/24 9:50:00 - Despite Career-High 28 From Santos, NCMC Women Fall to 4-6
2014/11/24 9:47:36 - Chillicothe Recognized As "Crown Community"
2014/11/24 9:43:55 - Trenton City Council Finance Committee Meets
2014/11/24 9:42:08 - Seven Parks, Including Crowder State Park To Close December 13th And 14th
2014/11/24 9:38:19 - Variety Of Topics Addressed At Princeton Chamber Meeting
2014/11/24 9:33:42 - Eleven NCMC Students Qualify For Contests At National Convention
2014/11/24 9:27:09 - Snow And Ice Policy On Agenda For Trenton City Council
2014/11/24 9:25:34 - Sunnyview Announces Employees Of The Month
2014/11/24 9:23:31 - Thanksgiving Meal For Ten Up $1.11 From Last Year
2014/11/24 9:20:34 - WMH Announces Employee Of The Quarter



Bookmark this article at these sites

                   

Listen to KTTN-FM