For Immediate Release:
September 8, 2023
OID Helps Oklahomans Collect More than $49 Million in Life Insurance
OKLAHOMA CITY – Oklahoma Insurance Commissioner Glen Mulready announced today that the Oklahoman Insurance Department (OID) has helped Oklahoma consumers find and collect more than $49 million from lost or unclaimed life insurance policies using the Life Insurance Policy Locator (LIPL) in 2022. The total of $94,673,994 in life insurance policies matched 4,872 Oklahomans since he took office in 2019.
“Unclaimed life insurance policies are more common than you would think. In some cases, beneficiaries may not even know the policies exist,” Mulready said. “I encourage anyone trying to find unclaimed benefits to use our policy locator to get the help they need.”
According to the National Association of Insurance Commissioners (NAIC), millions of dollars in life insurance benefits go unclaimed annually. The LIPL requests are secure, confidential and free. Any matches found by participating insurers are reported to state insurance agencies through the LIPL. The companies are then responsible for contacting beneficiaries.
If you believe you may be the beneficiary of a deceased loved one’s lost or missing life insurance policy but don’t know where to start your search, please contact us at 800-522-0071 or visit https://www.oid.ok.gov/LIPL.