unclaimed funds

Mass. Unclaimed Property Totals $2.4 Billion

Sep 9, 2013

Massachusetts residents should be on the lookout for unclaimed funds, according to those who track them.

State Treasurer Steven Grossman—who is also running for governor in 2014—has announced that part of that amount includes 51,000 newly listed names with $75 million owed to them. The list now totals 600,000 people who have forgotten bank accounts, un-cashed checks, insurance policies, stocks and contents of unattended safe deposit boxes.

ALBANY, N.Y. (AP) — New York is requiring life insurance companies to send $665 million to beneficiaries nationwide, many of whom didn't know they were named in the policies.

Gov. Andrew Cuomo says the investigation and a measure he signed into law last year requires insurance companies to try to find beneficiaries, rather than wait for recipients to file claims.

Many of the beneficiaries didn't know they were named as recipients by relatives or friends and so would have likely never filed a claim.