Close Close

Life Health > Life Insurance

Unclaimed Property: Consumers Say They Communicate

Your article was successfully shared with the contacts you provided.

U.S. consumers are telling pollsters they tell life insurance policy beneficiaries about the policies.

Nationwide Financial Services Inc., a unit of Nationwide Mutual Insurance Company, Columbus, Ohio, has reported that finding in a summary of results from a recent online survey of 805 U.S. life policy owners.

About 91% of the policy owners said the policy beneficiaries know they are beneficiaries, and 70% of the owners said they are confident that the beneficiaries would know how to file a claim.

About 53% of the owners said they have told the beneficiary about the policy death benefit, and 20% have told the beneficiary the name of the insurance agent who sold the policy.

More on this topic

But 57% of the policy owners who have talked to the beneficiaries about the existence of the policy admitted that they have not told the beneficiaries where the policy is located

- Allison Bell

Other unclaimed property coverage from National Underwriter Life & Health: