Service helps recover lost life insurance money

A free service offered by the Michigan Department of Insurance and Financial Services (DIFS) has helped consumers recover more than $6.3 million in death benefits since 2016.

The Life Insurance and Annuity Search Service (LIAS) was created to help beneficiaries locate a deceased family member’s life insurance policy or annuity contract that was purchased in Michigan.

Each month, the agency forwards consumer requests to Michigan licensed life insurance and annuity companies to try to locate lost policies. During the last two years, over 2,000 requests have been submitted to participating insurance companies. Insurance companies contact the beneficiary directly if a policy match is found. They will not contact anyone who is not a beneficiary or legally authorized to receive the policy information. Find more information, including a search request form, at www.michigan.gov/lias.