There is an estimated one billion dollars  of unclaimed death benefits sitting in the banks of life insurance companies.  Why?  Life insurance companies use a Social Security death database to stop retirement-income checks, however they fail to use the same database to determine if the policyholders are still living or if their death benefits need to be paid out.  In recent months attorneys and state officials have started investigating such insurers to discover whether they have violated laws when it comes to paying out such benefits.   

If you are a potential beneficiary you can contact the insurers directly, review old income-tax returns for expenses paid to life insurance companies, and continue checking the mail of the insured for up to one year after their passing for premium notices.

For more information about this topic visit our website at www.KLHLaw.com or contact our office, 614-224-7711, to learn more about your legal rights.