California controller adds unclaimed life insurance search
This month, California state controller, John Chiang added new search functionality to make it easier to search for unclaimed life insurance proceeds and/or premiums. Here is an explanation of the recent litigation settlements as reported here:
State Controller John Chiang’s audits of national insurance company practices, which started in 2008, revealed an industry-wide practice of companies failing to pay death benefits to beneficiaries. Often, companies would draw down the cash value of the life insurance policy to continue paying premiums, even when they knew or should have known the policyholder had died and the beneficiaries should be paid. The policies then would be canceled — without notifying the policyholder or their family members.
To protect life insurance policyholders and their beneficiaries, the Controller has led the national effort to end this practice. To date, Controller Chiang has reached global settlements with 19 life insurance companies to restore the full value of impacted accounts dating back to 1995 and to abide by the State’s unclaimed property laws to return these accounts to the owners or, in many cases, the owners’ heirs. These 19 life insurance companies have agreed to restore an estimated $266.7 million in unpaid benefits to Californians, and an estimated $2.4 billion nationally.
Through July 2014, 15 of the 19 life insurance companies have transferred $190.3 million to the Controller for safekeeping until their beneficiaries can be found. During very early efforts, nearly $60 million has already been returned to the rightful owners. In July 2014, the Controller successfully petitioned the Legislature for additional budget resources to expand his office’s ability to locate the beneficiaries of these recovered insurance policies. To continue his push to find the beneficiary of every one of these recently-restored policies, Controller Chiang launched a new online search at www.claimyourpolicy.sco.ca.gov
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Editor’s note: Although this is a great new tool for specialized and in-depth searches, Discovered Money recommends you search the entire state database, including the life insurance proceeds and premiums at their main search website at claimit.ca.gov.
Riverside County unclaimed property tax refunds returned to general fund
RIVERSIDE, Calif. –
More than $1.14 million in property tax overpayments that went unclaimed by hundreds of individuals and businesses in Riverside County was deposited into the county’s general fund today by the Board of Supervisors, several of whom expressed regret that the money couldn’t be returned to taxpayers.
“I can’t help but wonder what we’re not doing to contact these taxpayers,” said Supervisor Kevin Jeffries. “We have committees, commissions and everything else under the sun to collect fees. Maybe it’s time we appoint somebody to contact these folks so we can get them their money.”
In a 5-0 vote, the Board of Supervisors authorized county Treasurer-Tax Collector Don Kent to take the unclaimed money and place into an active account for the county’s discretionary use.’
However, Jeffries, Supervisors John Benoit, Jeff Stone and John Tavaglione all wondered why the roughly 1,800 prospective claimants to the funds didn’t make an effort to get the money rightfully owed them.
Discovered Money captured the list of people and businesses owed money by Riverside County as of May 1st, 2013. You can review the list here. (Some of the parties on this list have already claimed their property.)
May 31 expiration date approaches for Solano County residents
Residents of Solano County, California have until May 31, 2013 to provide proof of identity to the county’s treasurer in an effort to claim the money that is rightfully theirs. The treasurer maintains the listing and the county’s laws indicate that the entire fund will be swept into the general fund on May 31st. Residents may review the listing for themselves and any small businesses that they might own and operate.
To view the treasurer’s website, including claim instructions, visit http://www.co.solano.ca.us/depts/ttcc/treasurer/unclaimed_money.asp
To review the entire listing in PDF format, download our file for free at: http://ge.tt/1UpiyVf
Unclaimed property deadline looming for Sacramento citizens
Citizens of Sacramento, California have until June 26th, 2013 to review the unclaimed property listing at their treasurer’s website.
The unclaimed property list consists of 10,419 unclaimed items, primarily uncashed checks and utility account credits that result when customers overpay on their account and don’t request a refund. The sum of all outstanding claims is $1.77 million, which makes the average claim worth about $170.
To claim your money or review the Treasurer’s website, visit http://goo.gl/isxD6
To view the entire listing, download the PDF at http://ge.tt/1jVZvVf/
Deadline looms for Santa Cruz County
Residents of Santa Cruz County in California have until December 3rd, 2012 to review the unclaimed property listings distributed by the county. After that date, the unclaimed property tax refunds and uncashed checks will revert to the county’s general fund. Check the PDF listing at our Ge.tt cloud service: http://ge.tt/6AzZiqR/v/0
Or, review the same listing in Excel 2010 format here.
This includes the cities listed below (among others):
- Santa Cruz, CA
- Capitola, CA
- Scotts Valley, CA
- Watsonville, CA
- Rio del Mar, CA
San Diego County issues list for September unclaimed funds deadline
According to the San Diego Business Journal:
San Diego County Treasurer-Tax Collector Dan McAllister says he has nearly 800 unclaimed cash accounts amounting to almost $200,000 that he’s trying to return to the rightful owners.
The funds in the accounts came from individuals who have done business with any county department in the past three years and are overpayments. The majority of the money, some $117,000, is property tax refunds, but another $94,000 is from refunds by various county departments consumers have dealt with. The largest refund is for about $8,700 while the lowest is $10.
“We hope that the owners come forward before September 14, 2012 and claim their refunds,” McAllister said.
After that deadline, state law allows unclaimed countywide funds to be turned over to the county’s general fund; property tax refunds require four years before the county can officially take them.
The property tax refund listing is available here in PDF format and here in XLSX format (Excel 2010).
The county-wide refund listing is available here in PDF format.
To claim anything found on the list of the unclaimed accounts, go to www.sdtreastax.com, or call 877-829-4732.
June 25th is last day to claim Sacramento, California payments
June 25th, 2012 is the last day for Sacramento residents and businesses to claim the lost money due to them. Corporations who have conducted business with the city in the past 20 years could also be included on the list.
The City of Sacramento, California released this list of uncashed checks and utility account credit balances in mid-April.
The PDF listing is available for download at Ge.tt.
More information, including a claim form, is available on the city’s website.
California’s $6.1 billion cache is a treasure trove for some in Auburn
State’s $6.1 billion cache a treasure trove for some in Auburn – Auburn Journal. Thanks Gus Thomson for the great article about unclaimed property in the region.
Glendale, California residents can check newly published uncashed check list
If you live or have every lived in Glendale, California, please check their newly published uncashed check list. The city plans to send all of the funds to their general fund unless you claim your funds soon.
The full story is at NBC – Los Angeles.
The list is available here in PDF format.
