Or the life insurance company may have undergone demutualization and was unable to find a current address for the policyholder.
To prevent your property from getting lost, you should keep an up-to-date list of all your family's assets, including bank accounts, certificates of deposit, mortgage escrow accounts, retirement accounts (IRA, Keogh, and 401(k)), layaways, stocks, bonds, mutual funds, life insurance policies, security deposits, and safe deposit boxes.
If you change your name or address, write to the address associated with each asset to notify them of the change.
Unclaimed property can include: Every state has unclaimed property laws which declare money, property, and other assets to be abandoned after a period of inactivity of three to five years.
During this abandonment period landlords, banks, utilities, hospitals, brokerage firms, mutual funds, insurance companies, and other organizations are required to try to return the valuables to their rightful owners.
If they are unsuccessful, they then turn the property over to the state's abandoned-property division or unclaimed property office.
Money that belongs to you might be sitting in a state unclaimed property office, just waiting for you to claim it.
Unclaimed property offices and state escheators currently hold several billion dollars of "lost money" belonging to millions of people.
This web page ( will tell you how you can find out - for free - whether there is unclaimed property belonging to you, and how to claim that property.
Most unclaimed property becomes abandoned as a result of a change of address (the owner moved), a name change (the owner got married or divorced), or death of the owner (the estate was unaware of the money or the heirs could not be located).
Sometimes the owner knows about the asset, but is unaware that it has been decleared abandoned and turned over to the state.
For example, here are a few of the most common scenarios in which you could "misplace" your money and not even know about it: Perhaps you moved your money to a new bank, but forgot about an account or safe deposit box you left with the old bank.