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IN CASE YOU MISSED IT…News 6 Orlando: “State seeks to return $1.5 billion in unclaimed property”

5/19/2016

Contact: Ashley Carr
(850) 413 – 2842

 
“State seeks to return $1.5 billion in unclaimed property”
News 6 WKMG Orlando
May 18, 2016
To Read the Full Article Click HERE
 
Ocala resident Matilda Council got an $8,784.12 surprise from the State of Florida: a check for unclaimed property that she didn’t know existed.

She’s not alone. Nearly $3 billion in unclaimed property has been returned to Floridians since the state’s unclaimed property initiative began in 1961.

Unclaimed insurance benefits have recently been a hot topic. Florida Chief Financial Officer Jeff Atwater and his team have been investigating what they call “systemic practices within the life insurance industry that grossly reduce the number of life insurance policies that are properly – and timely – paid out.”


But that’s changing, thanks to pressure from the state.

Council’s nearly $9,000 check was a direct product of its settlement and audit of American General Life Insurance Co., Graham said.

Earlier this year, Florida Gov. Rick Scott signed a bill into law to strengthen consumer protections related to life insurance for anyone in Florida who buys life insurance.

“In Florida, the value of all of our unclaimed property accounts is over $1.5 billion,” [Bureau of Unclaimed Property Chief Walter] Graham said.


News 6 is helping Graham get results and return unclaimed property to its rightful owners. He’ll be in the News 6 studios from 4 to 7:30 p.m. Thursday, taking your calls and helping you find out if you have money waiting for you.

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