Broward News

AIG Owes Florida Beneficiaries $25 Million. Are You One of Them?

In case you didn't hear, AIG almost sued the government for $25 billion because their former Chief Executive, Maurice Greenberg, claimed that the terms of the $182 billion bailout wasn't fair to AIG shareholders, even though the government literally saved the company's ass from the brink of collapse during the 2008 financial crisis.

Funny thing happened on the way to the lawsuit, however. People got uber-pissed. And now AIG has decided not to sue the government, after all.

Meanwhile, down here in our neck of the woods, it turns out that AIG failed to use the Social Security Administration's Death Master File to find life and annuity beneficiaries, even though a lot of them have used the file to stop making annuity payments. And now these folks are owed big time.

Thanks to a settlement with AIG, the state is looking for the beneficiaries of $25 million in unclaimed life insurance benefits.

According to Florida's Chief Financial Officer Jeff Atwater, the 61,271 unclaimed accounts are the first of several accounts that is expected to be turned over by the company.

Florida's Bureau of Unclaimed Property is attempting to return the money to the rightful owners or heirs.

If you think you're one of those people, you can search for unclaimed property here.

You can also call 1-888-258-2253.

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Chris Joseph
Contact: Chris Joseph