Missing Assets - Lost Life Insurance Search

Unclaimed Life Insurance Demutualization Payments  Demutualization is the process of converting a mutual life insurance company is owned by policyholders into a publicly traded stock company owned by shareholders. Many of the nation's largest life insurers have demutualized, including Prudential, John Hancock, Metropolitan Life, Equitable, Principal, Nationwide, Mutual of New York and others.

Policyholders, beneficiaries and heirs continue to be entitled to receive policy benefits due, but in addition receive stock and cash in exchange for their ownership interest. The amount is based on a number of factors, including length of time the policy has been in force, face value of the policy, and total premiums paid.

The windfall arising from demutualization can be substantial - often tens of thousands of dollars - but millions of missing policyholders and heirs have not made claims, and efforts to contact them were unsuccessful due to name changes after marriage or divorce, unreported changes of address, expired postal forwarding orders and non-current beneficiary information.

pursuant to a plan of conversion approved by policyholders and government regulators.

When John Hancock demutualized, it did not have current addressed for 400,000 policyholders. Prudential could not find 1.2 million policyholders entitled to receive compensation, and MetLife estimates 60 million shares of stock arising from its demutualization - worth billions of dollars - went unclaimed. Contact efforts were unsuccessful, due to name changes after marriage or divorce, unreported changes of address, expired postal forwarding orders and non-current beneficiary information.