Allianz Life Insurance Unclaimed Policy Benefits Search

Allianz Life Insurance - Unclaimed Policy Search


Allianz Life Insurance Settlement for Missing Beneficiaries and Lost Heirs

Allianz Life Insurance Claims

Estimates are $2.4 billion dollars in death benefits owed beneficiaries and heirs of deceased life insurance policyholders goes unclaimed each year.

Heirs of deceased policyholders and annuity owners may be entitled to receive compensation arising from a 2012 legal settlement  between states and a number of underwriters.

Unclaimed property audits undertaken by a number of states revealed many major life insurance companies failed to pay death benefits to beneficiaries, despite having confirmation policyholders were deceased. Additionally, some companies continued charging premiums, deducting payments from the policies' cash reserves until depleted, at which time the policy would be cancelled.

Insurance Companies participating in the Global Life Insurance Settlement  include: AIG,  Allianz, Aviva, Forethought, Genworth, Hartford, ING, John Hancock, Lincoln National, MetLife, Midland National, Nationwide, New York Life, Northwest Mutual, Pacific Life, Prudential, Symetra, TIAA-CREF, Transamerica and Western & Southern.

In January of 2015, Allianz Life Insurance Company of North America and Allianz Life Insurance Company of New York reached agreement with thirty states regarding unclaimed life insurance policy payments, and will pay a $4.7 million fine.

Under the agreement {Allianz Life Insurance Claims Settlement} Allianz agreed to reform its business practices to ensure life insurance, annuity, and retained asset account benefits are promptly paid going forward. Allianz will now check the Social Security Administration's Death Index Master File to determine whether any of its life insurance policyholders, owners of annuities, and holders of retained asset accounts are, in fact,  deceased.

If Allianz finds that a policyholder has died, it will attempt a search for beneficiaries. If beneficiaries cannot be located, Allianz will then remit the policy proceeds to a government custodian, where they are held available to be reclaimed in the future.

AIG l Life Insurance Claims

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AIG John Hancock Northwest Mutual
Allianz Kemper Pacific Life
Aviva Lincoln National Prudential
Forethought MetLife Symetra
Genworth Midland National TIAA-CREF
The Hartford Nationwide Transamerica
ING New York Life Anico / Thrivent Financial