Every year, millions of dollars in life insurance benefits go unclaimed. To help Oklahomans locate unclaimed benefits, the Oklahoma Insurance Department (OID) launched the Life Insurance Policy Locator (LIPL) through the National Association of Insurance Commissioners (NAIC) in 2016. The OID has assisted 4,948 requests, which led to 1,389 matches with a total claim amount of $18,844,127 since it was created.
The LIPL Service is a free online tool that helps connect beneficiaries with policies. The policy locator requests are secure and confidential. Any matches found by participating insurers are reported to state insurance agencies through the Life Policy Locator. The companies then are responsible for contacting beneficiaries.