These lost life insurance policies eventually
become unclaimed life insurance and are waiting to be found and for a claim to be made against them.
However, the average person probably won't even know it's happening, and over time this policy will
become unclaimed.
There are several ways life insurance policies can
become unclaimed, below are a few of the ones I think tend to create the most unclaimed life insurance policies:
Life insurance policies
become unclaimed 7 years after the policy matures and is not claimed.
Bank accounts
become unclaimed after 7 years if the account is inactive (no deposits or withdrawals).
Our unclaimed money infographic explains how money can get lost and
become unclaimed and how much is out there to be claimed.
Not exact matches
She
became a student coordinator for the VITA project, working directly with an IRS taxpayer - education coordinator to remedy the fact that $ 9 million had gone
unclaimed in Oakland in 2002.
Unclaimed funds will then
become the property of the Park City School District Child Nutrition Department.
If pets go
unclaimed they
become property of WARL and are prepared for adoption.
Unclaimed pets
become the property of the Humane Society and will be either adopted or, in the case of lack of space, poor health, and / or ill temperament, humanely euthanized.
The animal shelters are last chance opportunities for these homeless pets to be saved, and when the shelters
become full, which occurs regularly, the ones still left
unclaimed or not yet adopted are destroyed to make room for new homeless pets coming into the facility.
They neglect to note that a large number of these animals are either surrendered by their owners for euthanasia because they are old and sick, seriously injured, or dangerously aggressive; that many of the dogs euthanized are unidentified,
unclaimed strays that are too old, sick, injured or aggressive to be placed in new homes; and many of the cats euthanized are feral animals that were never owned but were trapped and impounded because they have
become nuisances.
As I've previously reported, life insurance companies have been getting heat for not paying death benefits on
unclaimed life insurance policies after the insured has
become deceased.
The regulator in the circular said that
unclaimed amount is common in insurance sector and a sharp increase in it has
become a cause of concern.