New locator will find beneficiaries

News

ILLINOIS — Families can now find their loved ones’ lost life insurance policies quicker.

The Life Insurance Locator allows beneficiaries to submit a copy of the death certificate.

The Department of Insurance will contact nearly 500 companies to search for records of the person’s policy and beneficiaries will receive information within 30-days.

It’s responded to more than 400 requests so far. Families have claimed nearly $2 million with the help of the locator since July, 2016.

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