Contributors

The issue will never go away, and it will grow and grow, in new and unexpected ways, because Americans have many physical and virtual shoeboxes, many reasons to discard physical boxes and delete digital files and only a vague idea of what financial services products they own. (And, as I write this, I have a nagging sense that I ought to do something about the baby life insurance policy my great-aunt gave me when I was born…)

A:  Warren S. Hersch

Senior Editor

This will remain an issue so long as life insurers are governed by a patchwork quilt of laws governing unclaimed property. To date, only six states have adopted an NAIC model requiring life insurance companies to check their lists of insureds against the Social Security Administration's Death Master File.

A: Michael K. Stanley

Associate Editor

It should be a priority for life insurers to make it go away. No matter how it is framed, they all come out looking bad in the eyes of the public.

A: Arthur D. Postal

Washington Bureau Chief

Yes. And, it is morphing into other things than just life insurance policies, and a huge player in the business, Kelmar, goes after all kinds of unclaimed property, including uncashed checks sent to employees and vendors.

A: Elizabeth Festa

Regulatory and Compliance News Editor

The issue seems to be a perennial one that is especially noticed in waves. As long as states have coffers and people act as people, without perfect efficiency or ethics, and as long as there are death benefits, the issue will continue.