DENVER -- The National Life Insurance Policy Locator is helping people find old policies they've been unable to find.
"Policies bought in the 1950s, 60s, 70s and 80s, companies have changed hands many times," Vincent Plymell of the Colorado Division of Insurance told Denver7.
Plymell says if you heard a relative talking about life insurance, you should look into it.
"This tool helps Coloradans get the insurance benefits their spouses, parents, grandparents and other loved ones have already paid for,” said Interim Commissioner of Insurance, Michael Conway. “Regulators identified the mounting problem of lost policies and worked together in 2016 to design this resource to help consumers find money that is owed to them. I encourage everyone to log in to see if they are owed money.”
To use the free system, you need the policy holder's name, social security number, birth date and death date.
In the first year of the system, 757 inquiries have resulted in 134 responses that led to $1,311,109 making its way to beneficiaries in Colorado.