CHARLESTON, W.Va. — State Treasurer John Perdue’s Unclaimed Property Division has paid beneficiaries in fiscal year 2018 more than a quarter of all life insurance proceeds ever returned by the state.
Perdue’s office has returned to beneficiaries $1.1 million in fiscal year 2018, which is roughly 27 percent of the $4.1 million in insurance proceeds ever paid out in West Virginia. The cumulative $3.2 million returned since 2012 represents 78 percent of state history total for life insurance proceeds returned.
Unclaimed property is any asset from which an individual has become separated, usually unknowingly. In the case of life insurance, many beneficiaries did not know they were due policy benefits.
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