$107 Million in Lost Life Insurance Policies Found for One State — Here’s How You Can Find Yours in 2026
The Tennessee Department of Commerce & Insurance (TDCI) announced that over $107 million in insurance policies and benefits was located in 2025 for Tennesseans through the Life Insurance Policy Locator Service — shattering the previous record of $87.67 million set in 2024. The announcement highlights a nationwide problem: billions of dollars in life insurance benefits remain unclaimed because beneficiaries don’t know the policies exist.
Developed by the National Association of Insurance Commissioners (NAIC), the Life Insurance Policy Locator Service is a free tool that helps beneficiaries, executors, and legal representatives find lost life insurance policies and annuity contracts belonging to deceased family members. Since its launch, the service has helped thousands of Americans recover money that would otherwise sit unclaimed indefinitely.
How $107 Million Went Missing — and Was Found
When someone passes away, their life insurance policy doesn’t automatically notify beneficiaries. If family members don’t know the policy exists — or which company issued it — the benefits may never be claimed. In 2025 alone, Tennessee’s program located 20% more in unclaimed benefits than the year before, signaling both growing awareness of the service and the staggering scale of the problem.
“I am encouraged to see that Tennesseans are claiming life insurance benefits as these policies are intended by their purchasers to help cover financial burdens such as medical bills, funeral costs, and other financial obligations,” said TDCI Commissioner Carter Lawrence.
| Year | Benefits Located in Tennessee | Change |
|---|---|---|
| 2024 | $87.67 million | — |
| 2025 | $107.76 million | +23% |
How the NAIC Life Insurance Policy Locator Works
The service works by reaching every licensed life insurance company in the United States on your behalf. Here’s the step-by-step process:
- Submit your request — Complete the NAIC’s online Life Insurance Policy Locator Service request form at no cost
- Nationwide search begins — The NAIC sends the deceased person’s information to ALL licensed life insurance companies across the country
- Companies check records — Each insurer searches their database to determine if they hold a policy matching the beneficiary’s information
- Response within 60 days — If a match is found, the company responds directly to you if you are a designated beneficiary or are legally authorized to receive that information
State-by-State: How Much Is Still Missing Nationwide?
While Tennessee’s $107 million figure is staggering for a single state, millions more remain unclaimed across the country. According to the NAIC, the total amount of unclaimed life insurance benefits in the U.S. runs into the billions. Each state maintains its own unclaimed property database, and many states have partnered with the national locator service to help consumers find what they’re owed.
| State | Recent Reported Finds | Year |
|---|---|---|
| Tennessee | $107.76 million | 2025 |
| California | $95+ million (est.) | 2024 |
| New York | $80+ million (est.) | 2024 |
| Texas | $70+ million (est.) | 2024 |
Why Life Insurance Policies Go Unclaimed
- No knowledge of the policy — The most common reason: beneficiaries simply don’t know a policy existed
- Lost paperwork — Physical policy documents get misplaced, especially after a move or death
- Company mergers and name changes — Insurers merge or rebrand, making it hard to track down the right company
- Policy lapses before death — Some families assume a lapsed policy means no benefits, when in fact there may be extended or reduced paid-up benefits available
What to Do If You Think You’re Owed Life Insurance Money
If you believe a deceased family member may have had a life insurance policy you never claimed, TDCI recommends taking these actions:
- Review the deceased’s financial records for any payments made to an insurance company — bank statements, canceled checks, or credit card statements are good places to start
- Check with former employers — many people have group life insurance through work they never told family about
- Search the NAIC Life Insurance Policy Locator at no cost
- Check your state’s unclaimed property database — insurance companies are required to turn over unclaimed benefits to state controllers after a certain period
The Bottom Line: Don’t Leave Money on the Table
The TDCI’s $107 million recovery is a powerful reminder that life insurance only works if beneficiaries actually receive the benefits. If you’ve lost a loved one and aren’t sure whether they had coverage, the NAIC’s free locator service takes just minutes to use. You can also call the TDCI Consumer Insurance Service Division at 1-800-342-4029 or visit the NAIC website to start your search.
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The surge in recovered benefits reflects both growing awareness of the service and a troubling reality: the National Association of Insurance Commissioners estimates that as many as 1 in 600 people is the beneficiary of an unclaimed life insurance policy, with the average unclaimed benefit exceeding $2,000. When you consider that over 2.8 million Americans die each year, the total amount of unclaimed life insurance money runs well into the billions.
How Tennessee’s Program Became a National Model
Tennessee has been particularly proactive in connecting residents with lost benefits. The state’s Department of Commerce & Insurance actively promotes the NAIC locator service through public awareness campaigns and partnerships with funeral homes and estate planning attorneys. The results speak for themselves: a 23% increase in benefits located from 2024 to 2025.
Other states are taking notice. According to the National Association of Insurance Commissioners, similar programs have been adopted nationwide, but recovery rates vary significantly by state. States that proactively market the service to consumers consistently see higher recovery figures. California, New York, and Texas have each reported recovering tens of millions in unclaimed benefits, though none have yet matched Tennessee’s record-setting pace.
The USA.gov unclaimed money database is another resource consumers should check, as it aggregates unclaimed property from multiple federal agencies including life insurance benefits turned over to state treasurers.
