How can I collect life insurance money released to the state?

UPDATED: Jan 3, 2012

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How can I collect life insurance money released to the state?

There are 3 parties listed as beneficiaries on 1 life insurance policy. Now 1 of these parties is not legally eligible to collect; the other 2 parties are. Instead of paying to the 2 legitimate parties, the insurance company turned the money over to the state to absolve themselves of doing the wrong thing. How do the 2 legitimate beneficiaries go about getting these funds from the state?

Asked on January 3, 2012 under Insurance Law, Texas


S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

On the state government website for your state, look for a link to unclaimed property.  Click that link and then enter the name of the insured to find the unclaimed property and claim number.  The state should have instructions as to the forms you need to file for your claim.  The forms might include proof of heirship and a separate claim form.  The website information and the required forms may vary from state to state, but this information should get you on the right path to claiming the proceeds of the insurance policy. 

Also, if you receive letters from companies telling you that they will help you recover the unclaimed property for a fee (usually a percentage of the amount of the proceeds), ignore those letters.  The forms you will need are easy to complete and you don't need to pay someone a percentage to obtain the unclaimed property from the state for you. 

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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