Missing out on money? Georgians reap $6.6 million in lost insurance policies

Nearly 600 Georgians have pocketed cash they didn't know was theirs.

Over the first 12 months of the Life Insurance Policy Locator app, more than $6.6 million has been paid out to Peach State beneficiaries.

According to a release from Georgia Insurance Commissioner Ralph Hudgens, 589 Georgia beneficiaries found lost or misplaced insurance policies or annuities since the app launched last December.

"The response from this application has been tremendous. I encourage everyone to log in to see if they have unclaimed money left to them from a deceased family member or loved one," Hudgens stated in the statement.

More than 3,300 people searched for Georgia policies on the app that matched 8,210 beneficiaries with more than $92 million.

"There are many Georgians who don't know where to begin when searching for a lost life insurance policy," Deputy Insurance Commissioner Jay Florence said in the release.

An estimated $1 billion in benefits are unclaimed, according to Consumer Reports.

For more information log onto https://eapps.naic.org.

Liz Fabian: 478-744-4303; @liz_lines

This story was originally published December 14, 2017 at 6:22 AM with the headline "Missing out on money? Georgians reap $6.6 million in lost insurance policies."