Illinois Consumers Recover $19.6M in Unclaimed Life Insurance

Almost $20 million in unclaimed life insurance benefits have been reclaimed through a free service provided by the State of Illinois.

Millions Returned to Famalies

The Illinois Department of Insurance (IDOI) announced that so far in 2025, consumers in our state got back $19.6 million in lost or unclaimed life insurance.

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According to the press release, funds were recovered through the Life Policy Locator, a free service that helps famalies identify policies left behind by deceased loved ones.

Awareness During September

September is Life Insurance Awareness Month, making it a perfect time to remind Illinois residents about this online tool.

IDOI Director Ann Gillespie highlighted the importance of this free resource:

Illinois requires insurance companies to attempt to find the beneficiaries of deceased policyholders when life insurance or annuity proceeds remain unpaid. We want to help people claim those benefits. -Ann Gillespie, Director of the Illinois Dept. of Insurance

Billions Go Unclaimed Nationally

According to the National Association of Insurance Commissioners (NAIC), they estimate millions of dollars in life insurance proceeds will go unclaimed every year.

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Illinois' proactive approach using the Life Policy Locator has helped families recover benefits that otherwise would've gone undiscovered.

How Residents Can Search for Potential Benefits

Anyone in Illinois who believes they may be a beneficiary can use the IDOI Life Policy Locator, the Illinois State Treasurer's I-Cash system, or the NAIC's Life Insurance Policy Locator to search for any potential funds.

Additional assistance is also available by calling the Illinois Department of Insurance at 866-445-5364, or you can email DOILifePolicyLocator@Illinois.gov.