What happens if an insurance company cannot find a customer to return premium? What if a claim check is lost and never cashed? Where does the money go?
If an insurance company in North Carolina is unable to find the check recipient, the insurance carrier must turn over unclaimed insurance funds to the State of North Carolina. The State of North Carolina maintains a database of “unclaimed property” that includes money from dormant bank accounts, wages, utility deposits, etc.
If a business could not find you, YOUR money would end up in a huge data base run by the North Carolina Department of State Treasurer. The data base can be searched here – https://unclaimed.nccash.com/app/claim-search . If there are funds out there, you would will need to contact the NC State Treasurer’s office to claim the funds. A claim can be filed online to get your money back.
Frequently, funds end up with the state fund because of a change in mailing address, an incomplete address or a spelling error. Consider searching under similar names, maiden name or variations with slight changes such as with or without a middle initial. Be sure to look under previous addresses, too. If a person passed away, you may want to check to see if there are any funds lingering out there for that person for the executor to claim. You can search for your family members names too!
There is currently $1.3 Billion in the unclaimed property fund for North Carolina as of August 21st, 2024. You may be one of the North Carolinians who is owned money from the fund. Please consider sharing with your friends and family so they can search for their own property.
What are you waiting for? It’s your money!
