CA Has Millions of Dollars in Unclaimed Life Insurance Payouts

You may be owed money that you do not even know about, and the State Controller wants to put it into your pocket.  This is a lot better than finding loose change in the sofa cushions.   State Controller Betty Yee says Life Insurance companies are holding 365-million dollars in unpaid claims.

It happens when somebody dies and the family is unaware of, or has forgotten about, the insurance policy.  In 2008 the California Controller's office began auditing insurer's books and found that companies had been holding on to millions that did not belong to them, but it is easy to find out if some of it might belong to you.

Yee says to watch out for scam companies offering to find the money for you for a fee.  Instead, there is a website where you can input some basic information and get a quick answer.  That website may be found by clicking here.

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