What Percentage Of Life Insurance Policies Go Unclaimed? 
The life insurance industry says that less than 1 % go unclaimed , the department of insurance in several states says otherwise . Several life insurance companies have been discovered performing inadequate due diligence by not surveying the Social Security , Death Master List . Other sources say 1 in 600 may be owed unclaimed life insurance money . Life insurance industry is not the only ones having problems with delivering money owed to beneficiaries ; many banks are sitting on millions of unclaimed accounts . And although life insurance companies need to be more vigilant with death claims , it is the responsibility of the policy beneficiaries to file a death claim . 