Search for Money from Insurance
Search for Money from Insurance
Insurance policies can be complicated. And, many people forget that they even signed up for the various types of insurance. Common unclaimed insurance funds include veterans insurance and FHA insurance. Additionally, people often purchase life insurance policies that end up in a drawer somewhere. Family members may not even know they were listed as a beneficiary.
Life Insurance
When it comes to life insurance, depending on your state, life insurance companies might not be required to proactively search for beneficiaries when a policy holder passes away. Therefore, if a loved one passes away, it's important to check through their papers to look for insurance policies. You can also contact their employers and associations they were part of to find out if they were issued policies through them.
If your state has required insurance companies to proactively pay out benefits without beneficiaries having to file a claim first, in the event the insurance company is not able to find a beneficiary, the funds would be turned over to the state's unclaimed funds department. You can search those records to see if money is being held on your behalf at https://missingmoney.com/en/
Veterans Insurance
Likewise, the Veterans Administration will attempt to pay out money owed to veterans under their insurance policies. But if you move and they don't have your address, they won't be able to pay you. To find out if the Veterans Administration is holding unclaimed funds for you, search here https://insurance.va.gov/UnclaimedFunds
FHA Mortgage Insurance
Mortgage insurance is often required by lenders if a home buyer makes a down payment less than 20%. According to the US Department of Housing and Urban Development (HUD), you may be eligible for a refund of a portion of the amount you paid for your FHA mortgage insurance if you paid an upfront mortgage insurance premium at closing, did not default on your mortgage payments, and acquired your loan after September 1, 1983. Likewise, you may be eligible for a share of any excess earnings from the Mutual Mortgage Insurance Fund if you originated your loan before September 1, 1983, paid your loan for more than seven years, and had your FHA insurance terminated before November 5, 1990. To search to see if you are eligible for a refund, visit https://entp.hud.gov/dsrs/refunds/