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State audits find $31M in unclaimed life insurance

2 years 1 week 40 minutes ago January 13, 2015 Jan 13, 2015 Tuesday, January 13 2015 January 13, 2015 9:48 AM in News
Source: Associated Press
By: APNewsNow

BATON ROUGE - State Treasurer John Kennedy says audits of life insurance company policies have uncovered more than $31 million in Unclaimed Property for beneficiaries in the past eight years.

The Treasury Department discovered the benefits after comparing the outstanding policies of a dozen insurance companies with the Social Security Death Master File. The reviews turned up a number of policies, including one $500,000-plus payout, where heirs didn't realize the policies existed.

The audits are just one component of the Unclaimed Property Program. Since 1972, the Unclaimed Property Program has returned more than $338 million to nearly 570,000 Louisiana citizens.

To check if you have any unclaimed money, visit the state Treasury's website or call 1-888-925-4127.

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