Rs 22,000 crore lies unclaimed with life insurance companies

January 9, 2025

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Unclaimed amounts with life insurers reached nearly Rs 22,237 crore at the start of FY24. Efforts from June to November 2023 reduced this by Rs 1,018 crore. The initiative highlighted the need for proper estate planning, especially for non-relative beneficiaries, as insurers focus on keeping nominee information updated and ensuring policy benefits are correctly distributed.