Life Insurance by State
Unclaimed Life Insurance Massachusetts: How Heirs Find and Claim a Lost Policy
In Massachusetts, a life insurer must turn unpaid death proceeds over to the State Treasurer once they sit unclaimed for more than three years. Heirs can search findmassmoney.gov for free, with no deadline, and heir finder fees are capped at 10%.
- Death proceeds are presumed abandoned after more than three years unclaimed under M.G.L. c. 200A, section 5A.
- Insurers owe interest from 30 days after death, at their deposit rate or 6% if they pay none, under M.G.L. c. 175, section 119C.
- The Treasurer’s Unclaimed Property Division says a claim takes about 180 days and charges no fee.
- Heir finder fees are capped at 10%, and contracts made within 24 months of the state receiving the money are unenforceable.
Table of Contents
Unclaimed life insurance Massachusetts families are owed usually sits in one of two places: with the insurer, or with the State Treasurer’s Unclaimed Property Division after the insurer gives up looking. This guide explains how the money moves between them under Massachusetts law, how an heir finds it, what the Treasurer asks for, and which rules protect you from paying a finder. It goes deeper than our general guide to finding a lost life insurance policy and the short lost-policy note in our Massachusetts life insurance guide.
Unclaimed life insurance Massachusetts: where the money goes
A death benefit becomes “unclaimed” when the insurer owes it but nobody collects it. In Massachusetts, the insurer must eventually turn that money over to the Office of the State Treasurer and Receiver General. The Treasurer’s Unclaimed Property Division then holds it for the owner or the owner’s heirs.
The Division’s search and claim site is findmassmoney.gov. You can also search by phone at (617) 367-0400, Monday to Friday, 8:45 a.m. to 3:30 p.m. The Division’s office is at 1 Ashburton Place, 12th Floor, Boston, MA 02108.
The Massachusetts Division of Insurance (DOI) says that if an insurer learns the insured has died but cannot find the beneficiary, it turns the death benefit over to the state as unclaimed property, and the beneficiary can still claim it. So a search for unclaimed life insurance in Massachusetts should always cover both the insurers and the Treasurer. A lost life insurance policy can be found at either stop, depending on how long ago the death was.
Unclaimed life insurance Massachusetts timeline: when insurers turn money over
Massachusetts sets the timing in Mass. Gen. Laws ch. 200A, § 5A. Funds a life insurer holds or owes under a matured or terminated life or endowment policy, or an annuity, are presumed abandoned once they have gone unclaimed and unpaid for more than three years after they became due, based on the company’s own records.
Two other parts of § 5A matter to heirs:
- Address presumption. If the insurer has no address for the beneficiary, the law presumes the beneficiary’s last known address is the insured’s last known address. That is why money often lands in the state where the insured lived.
- Limiting age. A policy with no proof of death is treated as matured if the insured reached, or would have reached, the limiting age of the mortality table behind the policy reserve, the policy was in force then, and nobody paid premiums, took a loan, changed the policy or wrote to the insurer about it in the prior three years.
| Massachusetts rule | What it says | Source |
|---|---|---|
| Dormancy for death proceeds | More than 3 years after the funds became due | M.G.L. c. 200A, § 5A(a) |
| Interest on death proceeds | From 30 days after death, at the insurer’s deposit rate, or 6% if it pays none | M.G.L. c. 175, § 119C |
| Treasurer claim processing | About 180 days | Mass.gov, Find unclaimed property |
| Heir finder fee cap | 10% of the amount remitted; contracts within 24 months of receipt unenforceable | 960 CMR 4.06 |
Figures are from the Massachusetts General Laws, 960 CMR 4.00 and Mass.gov as of October 15, 2026, and are shown for illustration only. They are not quotes or offers, and they can change. Confirm current numbers with the Treasurer’s Unclaimed Property Division or a licensed agent.
Does Massachusetts require Death Master File checks?
Not by statute, as of this writing. Many states require life insurers to compare their policyholders against the Social Security Death Master File, so they learn about deaths without waiting for a claim. Massachusetts has no enacted section that does this.
A bill to add one has been filed in several sessions. The latest, House Docket 4853, “An Act relative to unclaimed life insurance benefits,” was filed June 25, 2025, in the 194th General Court and referred to the Financial Services committee. It would add section 119D to chapter 175, requiring checks at least twice a year and a documented beneficiary search within 90 days of a match. Until a bill like that passes, Massachusetts heirs should not assume the insurer knows about the death. The life insurance beneficiary, or the family, usually has to tell the company.
The NAIC locator and the Massachusetts Division of Insurance
The NAIC Life Insurance Policy Locator is a free national service, launched in November 2016. You enter the deceased person’s details from the death certificate, and participating insurers check their records. If a policy turns up and you are the beneficiary, the insurer contacts you. The NAIC reported more than 1.5 million requests and $16,991,229,586 in matched benefits as of July 31, 2026.
The Massachusetts DOI links to the locator on its “Annuities and Life Insurance Lost Policy Locator” page. Participating insurers report matches to state insurance departments. The DOI can also trace an insurer that changed its name or merged, if you know the company’s full legal name and the state where the policy was bought.
DOI Consumer Services: (617) 521-7794 or toll-free (877) 563-4467, Monday to Friday, 8:45 a.m. to 5:00 p.m.
How heirs file a claim with the Treasurer
Searching is free, and the Treasurer says there is no time limit to claim. On findmassmoney.gov, search the deceased person’s name, plus old addresses and maiden names. Select a match, click Start Claim, and submit. You will get an email listing what the Division needs to prove the claim.
For a deceased owner, the Treasurer’s regulations (960 CMR 4.04) only send claim forms to people with a valid interest, such as a court-appointed executor, administrator, guardian, trustee or conservator, or a person who has petitioned a court to be appointed. Expect to provide:
- a copy of the owner’s death certificate;
- a certified copy of your court appointment as executor or administrator, where one applies (in Massachusetts this comes from the Probate and Family Court);
- the estate’s Tax Identification Number, not the deceased person’s Social Security number;
- your own Social Security number or TIN and current mailing address;
- a marriage certificate, if names changed.
If you are the named life insurance beneficiary rather than an estate representative, say so and ask the Division what proof it needs. For an insurer-side claim, our guide on how to file a life insurance claim walks through the forms.
Heir finders and fees in Massachusetts
Heir finders sometimes write to families offering to recover money for a share. Massachusetts limits this in 960 CMR 4.06:
- Fee agreements made within 24 months after the Division receives the property are unenforceable.
- Fees cannot exceed 10% of the amount originally remitted to the Division.
- Contracts must be signed, dated and notarized, and the Division pays only the owner, never the finder.
- Registered heir finders must post a performance bond of at least $10,000.
Because the claim itself is free, most families do not need a finder for an unclaimed property search. If a letter about unclaimed life insurance in Massachusetts asks for a fee up front, check findmassmoney.gov yourself first.
Hypothetical example: an heir finds a parent’s policy
Hypothetical example. Dana’s father dies in Worcester on January 10, 2026. Dana finds an old premium notice for a $40,000 whole life policy but no policy document. She submits an NAIC locator request in February. In June, the insurer contacts her as the named life insurance beneficiary, and she files a claim with a certified death certificate.
Under M.G.L. c. 175, § 119C, interest runs from 30 days after death, here February 9, 2026. Assume the insurer pays no interest on deposited proceeds, so the 6% fallback applies, and it pays 180 days after February 9:
- $40,000 × 6% = $2,400 a year
- $2,400 × 180 ÷ 365 = $1,183.56 interest
- Total paid: $41,183.56
Now suppose Dana never searched. After more than three years, the insurer would report the money to the Treasurer. If an heir finder then charged the 10% maximum, Dana would give up $4,000. Filing directly with the Treasurer costs nothing, though processing takes about 180 days.
This example is for illustration only. Actual interest depends on the insurer’s deposit rate and policy terms.
Unclaimed life insurance Massachusetts checklist
- Order several certified death certificates.
- Submit an NAIC Life Insurance Policy Locator request.
- Search findmassmoney.gov under every name and address the person used, and repeat yearly.
- Check mail for premium or dividend notices for at least a year, and review past tax returns for insurer interest or dividends.
- Ask former employers and unions about group coverage.
- If the estate needs a representative, open it in the Probate and Family Court before filing a Treasurer claim.
- Call the DOI to trace a renamed or merged insurer.
- Decline finder contracts in the first 24 months, and never agree to more than 10%.
Unclaimed life insurance Massachusetts frequently asked questions
Is there a deadline to claim unclaimed property in Massachusetts?
The Treasurer states there is no time limit for a person to claim property, and no fee is charged for claiming it.
How long does a Massachusetts Treasurer claim take?
Mass.gov says it takes about 180 days to process a claim. Some claims are approved automatically, but most need more documents.
Will the insurer pay interest on a late death claim?
For individual policies in force at death, M.G.L. c. 175, § 119C requires interest from 30 days after death at the insurer’s deposit rate, or 6% if it pays none. Policy terms also matter, so check the claim letter. Our life insurance glossary explains terms like “proceeds” and “beneficiary.”
Does the NAIC locator search Massachusetts policies?
Yes. It is a national service, and the Massachusetts DOI links to it. Only participating insurers check requests, so a lost life insurance policy with a non-participating company may not show up. Keep searching the Treasurer’s list too.
Can I claim if I am not the executor?
Under 960 CMR 4.04, claim forms for a deceased owner go to people with a valid interest, such as a court-appointed representative or someone who has petitioned to be appointed. A named beneficiary should ask the Division what proof applies.
Should I pay a company that says it found my parent’s money?
You do not have to. Massachusetts caps heir finder fees at 10% and voids agreements made within 24 months of the Division receiving the property.
How Octans can help
Octans Insurance is an independent agency based in Massachusetts. We can’t search insurer records for you, but our licensed agents can explain a policy you find, help you read a claim letter, and talk through coverage for your own family. Call (617) 935-9220.
Keep Reading: Related Guides
- Life insurance in Massachusetts
- How to file a life insurance claim
- Find a lost life insurance policy
- Life insurance glossary
Important: Octans Insurance agents are licensed in the states in which they operate. Coverage availability and rates may vary by state. Premium examples, when provided, are illustrative samples from published sources, not quotes. Final rates are determined by the insurance carrier based on underwriting and applicable policy criteria. Policy terms, exclusions, limitations, riders, and availability vary by carrier and state.
About examples and tools: Hypothetical examples, sample rates, calculators and quizzes on this site are for general educational and illustrative purposes only. They are not quotes, offers of coverage, or guarantees of eligibility, approval, price or benefits, and they are not legal, tax, financial or medical advice. The insurance company decides eligibility and price; Medicare rules are set by CMS and the Social Security Administration.
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