From staff reports OKLAHOMA CITY — Millions of dollars in death benefits go unclaimed each year. The Oklahoma Insurance Department announced it has helped match more than $200 million in unclaimed life insurance benefits with beneficiaries using the Life Insurance Policy Locator (LIPL) tool since its launch in 2016.
“Since I took office in 2019, we’ve matched more than 8,500 Oklahomans with over $176 million in unclaimed life insurance benefits,” Oklahoma Insurance Commissioner Glen Mulready said. “I urge you to use this tool and help us help you claim what is yours.”
In a separate matter, Attorney General Gentner Drummond is complaining about Mulready and high homeowner insurance rates in Oklahoma. A letter that Drummond sent Mulready on Aug. 12 stated Oklahomans pay 2.5% of their home value on annual insurance premiums – four times the national average.
Mulready consistently points to Oklahoma’s harsh weather and told Oklahoma Watch, “Oklahoma has more than 100 licensed companies to write homeowners policies; over 50 are writing new policies, providing consumers with plenty of choices.”
As for the Life Insurance Policy Locator, it is easy, free and secure, Mulready said.
• Visit oid.ok.gov/LIPL and click “Get Started.”
• Enter information from the deceased’s death certificate, such as the Social Security number, legal name, date of birth, date of death and the deceased’s veteran status.
• You will also need to indicate your relationship to the deceased. Click the submit button and receive a confirmation email.
If a policy is found and you are the beneficiary, the life insurance or annuity company will contact you directly. If no policy is found or you are not the beneficiary, you will not be contacted.
The LIPL tool, a collaboration between the Oklahoma Insurance Department and the National Association of Insurance Commissioners, has facilitated more than 1.17 million policy search requests. Insurance companies have reported more than 611,000 matches with life insurance policies or annuities totaling $13.18 billion nationally through Aug. 31, 2025.
“I also want to stress the importance of life insurance in your financial planning,” Mulready said. “It may seem difficult to address or discuss, but it can help your loved ones in case something unforeseen happens to you.”
OID can help individuals with life insurance questions and understand the different policy types. Visit oid.ok.gov/ life, or call OID at 800-5220071 to learn more and get help.