Life Insurance Think Tank Blog » Over $1 Billion of Unclaimed Life Insurance http://blog.lifeinsurancethinktank.com Life Insurance Education Sat, 22 Jun 2013 22:11:18 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Over $1 Billion of Unclaimed Life Insurance! http://blog.lifeinsurancethinktank.com/over-1-billion-of-unclaimed-life-insurance/ http://blog.lifeinsurancethinktank.com/over-1-billion-of-unclaimed-life-insurance/#comments Thu, 07 Feb 2013 08:18:06 +0000 Life Think Tank http://blog.lifeinsurancethinktank.com/?p=776 Most of you reading the title are probably assuming that it is some kind of marketing prank to get you to read the blog, but this is completely legit.  And shocking nonetheless!

That’s right, Consumer Reports did a thorough investigation in its February issue about the wild amount of life insurance payouts that are NOT claimed.  The results came in at over an astonishing $1 Billion of life insurance benefits that are just sitting there waiting on beneficiaries to claim them.  Our question is how can this possibly happen, especially with the tracking ability and network of databases that is available today?  But I can also see it from the carriers perspective – How much time and money are they really going to spend just to give money away that the beneficiaries should be banging on their door for?  The entire thing seems crazy.

The best part is the Consumer Reports magazine actually calculated the chances that some of this money could be yours from a long, lost relative…1 in 600!  Much better than winning the lottery for sure!

 

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