How to Claim Deceased Relatives Unclaimed Money

Unclaimed money can be claimed from owners who might be deceased relatives. According to unclaimed money laws and a recent statement from the U.S. Supreme Court (Texas vs. New Jersey, 379 US 674, 1965), the unclaimed property is returned to the state of the property owner’s last known address. If the address cannot be found, then it is returned to the state in which the business holding the funds is incorporated. At this stage, it is the responsibility of the unclaimed property office to find the rightful owners. The reassuring part of this process is that the unclaimed money for a dead relative can be claimed without any fear of the time limit; there is no time limit on claiming your property.

If you are on a mission to claim unclaimed money or any unclaimed money owed to your relative, then the following checklist might be a great way to kick-off the campaign. The following information being sought from the office of unclaimed property:

  • Name of the relative/predecessor (including maiden or former names)
  • Their Social Security number, current address
  • All previous addresses where she/he lived while in the state
  • They will want the same information about any other individual for whom you’re the legal beneficiary

The credit goes to the Social Security Administration which keeps tracks of all the personal and professional details of a person from life to death. This information helps the authorities in charge of the unclaimed funds, as they have the accurate data in front of them which they can utilize to cross-check the information that you have provided for your relative.

The government at both the federal and state levels is determined to return the unclaimed funds to the rightful owners, and they are leaving no stone unturned to locate the actual owners of these unclaimed assets. If you are trying to find unclaimed property, now is the best time to do that. It has to be understood that the unclaimed assets are in safe hands and can be claimed at any point of time.

As compared to the earlier years, both federal and state governments have simplified the claim process to a great extent. So, if you are looking for unclaimed money for which you are the rightful heir/owner, it makes practical sense to take all the help from the government machinery. At the present moment, every media avenue is being tapped by the state and federal agencies, and they have shown the proactive stance towards providing all the logistical and information-based help to the claimants. If somebody is looking for a heir unclaimed money or relative unclaimed money, then the best process is prescribed by the state unclaimed money websites.

posted by (Nicole Anderson)

Until next time, Michael Hartmann

Always remember our Mission Statement



Health Insurance Exchanges

When people have started to think about what a health exchange is they have probably become more confused than anything else over the past few months and years. The concept by itself is fairly simple in that many people know it deals with health care reform. After that, the idea itself becomes more confusing and people can get lost throughout it. Part of the reason that the concept is confusing is because people continue to hear different rumors and ideas with respect to what is really happening with the healthcare situation. Regardless of what they happen to hear, however, unless something changes the health exchange idea has been signed into law and the concept is here to stay. What exactly is here and how it will affect you is an entirely different story, however.

Like it or not, there are going to be new rules that affect people and even small businesses within the country. More and more people are going to find that they are going to be forced to purchase some sort of insurance in order to cover them according to many. However, as more and more individuals buy into the healthcare system, it should also become more affordable for everyone inside the system and that means it will become more convenient and affordable for all as well. That is the main purpose of the healthcare reform; to ensure that if everyone pays into the system then everyone will have a chance at something affordable by bringing down the costs for all.

A health exchange specifically can mean a few different things, but one of the most prevalent throughout the case is definitely something that everyone should know. A health exchange in itself is where individuals can receive the choice to purchase healthcare at an affordable rate to cover themselves and their small business. It will be based upon different regions and different states in order to keep it truly competitive, but some of those details have yet to be fully worked out. But just because all of the details haven’t been worked out yet, it doesn’t mean that the central ideas and the main points aren’t still evident and in place.

More and more plans will also start to be created as well so that individuals and small businesses of all sizes, shapes, ages, and success rates will still have more and more options present for them. And while not everyone completely understands the idea or completely agrees with what they know, there are definitely a significant amount of details that are starting to emerge from the process itself.

While the concept of a health exchange is still being formed in some essence even as you read this, the truth is that the healthcare field is about to get turned upside down. People will finally be able to afford a legitimate healthcare plan which can cover them for cheaper than what they have already paid but also at a possible better efficiency and coverage overall as well. The plans are still being created, but for the first time in a long time there is hope.

posted by (James Watt)

Until next time, Michael Hartmann

Always remember our Mission Statement


Deciding A Good Life Insurance

Life insurance is an essential factor in everyone’s life and especially for the ones having a family relying on their income. Even in some instances where the family is not dependent on your income, it can still be a good idea to take such insurance to help them cope with the highly upsetting and difficult event of your death. 

However while we all know it is a good idea to take insurance, it is difficult for most of us to know how to compare life insurance policies. There are hundreds of different companies to choose from like BMO life insurance, TD life insurance, etc., and knowing which one is best for you can be quite confusing.

Many factors make each policy unique where the most obvious is the cost of the insurance against the amount that would get paid out. The aim of a good insurance is to allow your family to continue with the way of life they experienced before your death and this would make it normally for those with higher paid salaries to take out more life insurance. Once you know how much you want to be paid out though, it then becomes a fairly simple matter of knowing how much you are willing to pay each month towards it. The more you can get for your money the better, so shop around different policies and companies to find which offers the best deal financially.

The price of your insurance will depend on numerous factors and the different companies might be better suited to different demographics. There are certain policies that are better for women and others that are better for young drivers. Here you will find that circumstances such as your job, your age, or any existing health conditions can all affect which choice is best for your insurance policy. Meanwhile some companies will offer better deals for those who want smaller policies while others will be preferential for those who pay in a lot.

At the same time you also need to look into the package you decide to take out. You will have to decide at this extent how much you are willing to pay, but different policies offer different perks and systems. For example some insurance companies will pay out in one large lump sum if you should die, while others will pay out in monthly instalments to mimic how your money would come in if you were still earning. This is purely based on the matter of preference and you need to decide whether you want the option to invest the money and make interest on it, or whether you would rather have a more simple system where you are not required to worry about what to do with it.

Other policies will provide you with the option to put an end date on the end. This will emphasize that you are guaranteed to get some kind of payout if you outlive the policy making it a much wiser investment.

posted by (Rachel Hammons)

Until next time, Michael Hartmann

Always remember our Mission Statement


Life Insurance Industry Trends To Watch Out For In 2014

As the New Year approaches, now is the best time to throw a retrospective glance at some of the key drivers of transformation of the life insurance products in the industry over the last decade. After all, it is the trends that carry the potential of shaping the retirement planning, life insurance and health insurance markets in 2014. The driving forces in the market and the ways in which the carriers get back to them, can determine how effectively we can offer the kind of innovative solutions that consumers need and demand. If you’re looking forward to watch out for the life insurance industry trends in 2014, here are some that you may consider.

1.    Universal life products will come with enhanced guarantee: We are usually aware of the fact that accessing the life insurance markets can be a challenge. For example, given the order for increased reserves on GUL products or Guaranteed Universal Life, there were some carriers that withdrew completely or pulled back from their commitments to the GUL market in 2013. But along with the different challenges comes different opportunities, especially for the distribution partners and carriers who not only respond promptly but also have the required resources, insight, experience to predict the needs of the consumer and react proactively.

   2.    Innovations for boosting retirement income: A coalition of consumer interest in assuring plentiful income in retirement has also led to innovative product development and refinement, that promises to offer new opportunities for advisors, agents and clients. According to studies, it seems that financial literacy and retirement security are on everyone’s mind. Nearly 40% Americans were interested in learning about the ways in which they can generate retirement income. There has been a huge change in the mindset of the consumers, protecting assets is now 8 times more important than obtaining riskier returns. This new mindset has given birth to a new pack of solutions on both retirement planning and life insurance programs.

   3.    Brand new life insurance riders: As the carriers, agents and the advisors get enough opportunities to serve client needs with the most fastidious degree of sensitivity in 2014, there’s enough enthusiasm for the newest designs in the life insurance benefit riders. The insurance policies that can meet the needs of the clients, their children, that can provide early access to the death benefit, will become popular in 2014. Today’s middle-market consumers are often challenged to fulfill multiple types of needs by using fewer products and hence the US Department of Health and Human Services has pointed out the need for long term care.

   4.    Emerging health care needs: Yes, it’s a fact that opportunities in 2014 lie somewhere else. None of us are unaware of the ramifications and complications of the Affordable Care Act. This is perhaps the best time for the distribution partners and the carriers to utilize the unwanted public scrutiny over the health care access and deliver some of the groundbreaking products that can safeguard the consumers against the financial perils and desolating medical conditions. In a nation where medical bills result to 60% of the bankruptcies, the life insurance industry needs to serious buck up.

As we are about to step into 2014, we have to take into account the developments and trends that are going to predominate the New Year. Take into account the above mentioned changes to the life insurance industry and base your decisions accordingly so that you can make the right decisions regarding getting one for you and your family.

Author: Marc Brown

Marc B is a senior forum member with AmPmInsure Community. You can get in touch with him in Twitter: @marcbrown2050