In addition to individuals who forget or neglect to claim assets to which they are directly entitled, millions of family members are totally unaware they’re eligible to unclaimed money owed deceased relatives, who passed away without leaving an updated will or list of assets for their heirs.

When missing heirs fail to claim an asset over a specified number of years known as the dormancy period, those left holding the unclaimed funds: banks, stock brokers and transfer agents, employers and life insurance companies - transfer the abandoned money to the protective custody a government trust account under a legal doctrine known as escheat.

Government agencies are holding over $40 billion in abandoned property and missing money. Much of this is unclaimed life insurance.

More than one-quarter of all life insurance policies go unclaimed on the death of the insured. Why? Unbeknownst to many, it is generally up to family members to notify the insurance company when a policyholder dies - virtually no effort is made to find lost beneficiaries or missing heirs.!