Citizens Life Group Launches Lost Life Insurance Policy Finder Tool
Citizens Life Group, based in Orlando, has introduced the Lost Life Insurance Policy Finder, a free online tool designed to help families locate life insurance policies of deceased relatives without needing an account or personal information. This interactive platform, accessible from the company's official website, integrates 10 diverse search strategies, encompassing all 50 states and specific veterans' insurance plans often overlooked by other services.
Since 2016, the National Association of Insurance Commissioners (NAIC) has enabled the recovery of over $13 billion in unclaimed death benefits. However, their existing Policy Locator achieves only around 50% search success and omits categories like veterans' policies and group life insurance. The new tool from Citizens Life Group fills these gaps by providing comprehensive state-specific guidance.
The tool simplifies the process by offering links to relevant property databases and leveraging a detailed company merger and name change database, aiding families in tracing old policies. It specifically highlights veterans' insurance options such as SGLI and VGLI, with straightforward access to Department of Veterans Affairs contacts. This focus ensures good coverage of often missed insurance plans.
Jeffrey Hallman, founder of Citizens Life Group, shares that this tool was inspired by frequent inquiries from families struggling to locate policies after a parent's death. The development aims to streamline the process of navigating through fragmented resources, providing a more user-friendly experience. It also advises on underutilized insurance alternatives like mortgage protection and credit union life policies.
The Lost Policy Finder independently serves the public without any commercial content or promotion of Citizens Life Group’s services. As stated by Hallman, the intention is to provide families with essential information at no cost. This tool, part of the company's life settlement advisement work, is designed to enhance public access to critical insurance information and is readily available on their website.