John Hancock Life Insurance Company turns $2 million in unclaimed life insurance benefits over to State Treasurer Clint Zweifel
Benefits are now Unclaimed Property and available to be claimed at www.ShowMeMoney.com
For Immediate Release
Thursday, April 26, 2012
JEFFERSON CITY – State Treasurer Clint Zweifel (ZWY-ful) announced today John Hancock Life Insurance Company has agreed to turn more than $2 million in unclaimed life insurance benefits over as Unclaimed Property following a review of dormant accounts. The unclaimed benefits result from instances where beneficiaries could not be found or were deceased following the insurance policy owner’s death. All unclaimed benefits may be found on www.ShowMeMoney.com, and there is no charge for their return.
“It is time for this money to be returned to the intended heirs, not sit on a company’s balance sheet,” Treasurer Zweifel said. “We have had great success returning property, and I am confident these life insurance benefits can be united with the loved ones they were intended.”
There were 1,501 accounts turned over to Treasurer Zweifel averaging $1,339. More accounts may be turned over as John Hancock Life Insurance Company completes its review.
Missourians may check for this and other Unclaimed Property 24 hours-a-day, and one in 10 Missourians is due some money.
Following is an overview of the Unclaimed Property found in each region of Missouri:
Kansas City Region (Bates, Carroll, Cass, Clay, Henry, Jackson, Johnson, Lafayette, Platte, Ray): $98.8 million in more than 755,000 accounts.
Mid-Missouri Region (Audrain, Benton, Boone, Callaway, Camden, Cole, Cooper, Dent, Gasconade, Howard, Maries, Miller, Moniteau, Montgomery, Morgan, Osage, Pettis, Phelps, Pulaski, Saline): $24.5 million in more than 265,000 accounts.
Northeast Missouri Region (Adair, Chariton, Clark, Knox, Lewis, Linn, Macon, Marion, Monroe, Pike, Putnam, Ralls, Randolph, Schuyler, Scotland, Shelby, Sullivan): $7.4 million in more than 71,000 accounts.
Northwest Missouri Region (Andrew, Atchison, Buchanan, Caldwell, Clinton, Daviess, DeKalb, Gentry, Grundy, Harrison, Holt, Livingston, Mercer, Nodaway, Worth): $9 million in more than 89,000 accounts.
Southeast Missouri Region (Bollinger, Butler, Cape Girardeau, Carter, Dunklin, Iron, Madison, Mississippi, New Madrid, Pemiscot, Perry, Reynolds, Ripley, Scott, St. Francois, Ste. Genevieve, Stoddard, Wayne): $14.3 million in more than 170,000 accounts.
Southwest Missouri Region (Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Hickory, Howell, Jasper, Laclede, Lawrence, McDonald, Newton, Oregon, Ozark, Polk, Shannon, St. Clair, Stone, Taney, Texas, Vernon, Webster, Wright): $35 million in more than 383,000 accounts.
St. Louis Region (Crawford, Franklin, Jefferson, Lincoln, St. Charles, St. Louis City, St. Louis County, Warren, Washington): $205.4 million in more than 1.2 million accounts.
About Treasurer Zweifel’s Unclaimed Property
State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel’s office that belong to a customer, client, employee or other owner if there have been no documented transactions or contact with the owner for five or more years. Most Unclaimed Property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. Treasurer Zweifel’s office does not handle real property such as land, houses, cars and boats. There is $700 million in Unclaimed Property maintained by Treasurer Zweifel. Treasurer Zweifel never charges for the return of Unclaimed Property.