HONOLULU, Hawaiʻi – Millions of dollars in life insurance benefits often go unclaimed each year because beneficiaries are unaware of existing policies or cannot locate them. In recognition of Life Insurance Awareness Month, the Hawaiʻi Department of Commerce and Consumer Affairs (DCCA) Insurance Division is highlighting a valuable free online tool designed to help consumers find life insurance policies and annuity contracts belonging to deceased loved ones.
The Life Insurance Policy Locator, developed by the National Association of Insurance Commissioners (NAIC), addresses this common issue. If a policy is successfully matched and the requester is identified as a named beneficiary, the life insurance or annuity company will directly contact them.
“The loss of a loved one can create a heavy financial burden on families,” said Insurance Commissioner Scott Saiki. “But life insurance is meant to ease that burden. Using this tool can help ensure those benefits are rightfully received.”…