Looking for abandoned life insurance pdf#

Property held by courts and public agencies -When abandoned -Overpayments.Ībandoned intangible property held by local government.Ĭontents of safe deposit box or other safekeeping repository.

Property of business associations held in course of dissolution. Stock and other intangible interests in business associations. General rules for taking custody of intangible unclaimed property.Ĭhecks, drafts, and similar instruments issued or certified by banking and financial organizations.īank deposits and funds in financial organizations.įunds owing under life insurance policies. Property presumed abandoned -General rule -Exceptions.

Looking for abandoned life insurance pdf#

I encourage you to search our online database today to see if you are missing money and I also ask you to please help spread the word amongst your friends, neighbors and family members.UNIFORM UNCLAIMED PROPERTY ACT Sections HTML PDF The unclaimed property online searchable list is regularly updated and contains hundreds of thousands of claimable properties. Unclaimed property includes bank accounts, bonds, IRAs, safe deposit contents, uncashed checks, utility deposits and more. These families are just three examples of the thousands of Rhode Islanders who are owed more than $275 million in unclaimed property. Visit RI Treasury’s YouTube Page to see all the videos. Sharon Finn of Cranston, RI found more than $46,000 from her brother’s life insurance claim. Lugarde Baris of Pawtucket, RI received $10,000 in life insurance proceeds from her sister. Maureen King of Warwick, RI searched for her husband’s name on Rhode Island’s Unclaimed Property list and found more than $11,000. These Rhode Islanders participated in this film project in the hopes that their stories would inspire others to search. Recently, my office launched three videos featuring Rhode Islanders who have found their missing money. Tracking down these unclaimed life insurance proceeds is an example of government working for people, especially in these challenging times. The average amount of each claim is more than $1,000.

So far, almost $2.3 million has been returned to more than 1,100 rightful owners and more than $9.5 million remains to be claimed by about 8,000 Rhode Islanders. If the insurance company is not successful, the property is turned over to the state.Īs a result of this agreement, Treasury’s Unclaimed Property team has found nearly $12 million in life insurance proceeds for more than 9,000 Rhode Islanders. Once a property holder is identified, the insurance company is notified and given one final opportunity to return the money. Verus’ mission is to conduct complex unclaimed property audits of national financial institutions, including insurance companies.The firm audits, identifies, collects and delivers unclaimed property from life insurance companies that are required to report and deliver property under the RI Unclaimed Property Law. It is one of three audit firms the state works with to track down money owed to Rhode Islanders. Rhode Island is one of 45 states, as well as the District of Columbia, working with Verus Financial to conduct audits of 13 different life insurance companies in an effort to recover abandoned life insurance property. Holding life insurers accountable is one of several ways that Treasury is helping people find their missing money. When it came to Treasury’s attention that life insurance companies may have unclaimed funds owed to Rhode Islanders, we stepped in on their behalf to give them an opportunity to recover the money.