Every year, billions of dollars in assets (bank accounts, insurance policies, retirement funds, safe deposit boxes and more) go unclaimed simply because beneficiaries don't know they exist. But the cost goes far beyond money. Families struggle with uncertainty, executors face overwhelming detective work and final wishes go unfulfilled.
The Unclaimed Property Epidemic
State treasurers collectively hold $70 billion in unclaimed property,1 with approximately 33 million Americans (1 in 7 people) having something to claim.2 In fiscal year 2023-2024 alone, states returned $4.49 billion to rightful owners (thanks to helpful resources like Missing Money (missingmoney.com).5 Yet this represents only a fraction of what remains unclaimed.
The problem extends beyond basic bank accounts. An estimated $32 billion in matured U.S. savings bonds sit unclaimed in the U.S. Treasury, with bondholders unaware that their bonds have stopped accruing interest.6
The Life Insurance Problem: Over $6 billion in life insurance benefits sit unclaimed.4 Studies suggest that 25-50% of all life insurance policies eventually go unclaimed,3 with beneficiaries completely unaware policies even exist. Since 2016, the NAIC Life Insurance Policy Locator tool has helped consumers claim more than $765 million in benefits; yet this represents only what's been actively searched for.7
Why This Happens: The Communication Breakdown
1
Beneficiaries Aren't Informed: Only 39% of Baby Boomers feel prepared as life insurance beneficiaries. This drops to 30% for Millennials and just 22% for Gen Z.8 Most beneficiaries don't know where policies are kept (only 23-41% know), which company issued them (29% know), or what the benefit amount is (25% know).8
2
Documents Get Lost: After 40-50 years, paper documents disappear. Families move, downsize or simply misplace critical information. Digital passwords die with their owners, locking away access to accounts and information forever.
3
Complex Asset Landscapes: Modern lives involve dozens of accounts: multiple banks, investment accounts, digital assets, loyalty programs, subscription services and more. Without a roadmap, executors face months of detective work trying to piece together a complete picture.
4
Sensitive Relationships Go Unaddressed: Final messages to estranged family members, expressions of forgiveness or explanations of difficult decisions often remain unspoken, leaving emotional wounds unhealed.
5
No Centralized System: There's no single government-wide database for all assets.9 Each bank, insurer and institution maintains separate records. Without information, claims can't be filed and benefits remain forever unclaimed.
The Real Cost: Beyond Dollars
While unclaimed assets represent enormous financial loss, the emotional toll is often even greater:
• Executors spend hundreds of hours searching for accounts, policies, and documents (time that should be spent grieving and healing).
• Family conflicts arise when instructions aren't clear or beneficiaries feel blindsided by unexpected decisions.
• Final wishes go unfulfilled because no one knows what they were: charitable intentions, special bequests, or personal messages never delivered.
• Opportunities for closure are lost when heartfelt final words remain unwritten and unshared.
• Bills go unpaid or insurance lapses because no one knows they exist, causing additional financial hardship.
• Digital legacies vanish as accounts lock forever, trapping photos, documents and memories that families can never recover.
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Preventing these problems requires two essential elements: (1) a complete inventory of contacts, accounts, and assets, and (2) heartfelt final messages to those who matter most. Together, these create a bridge between your important affairs and the people who need to know about them.
Essential Contact & Account Inventory
Your executor and loved ones need a clear roadmap to every aspect of your life. This comprehensive checklist ensures nothing is overlooked. Take inventory of the ones that are relevant to your affairs and start by simply noting the contact person or organization and details.
Executor/Personal Representative
Estate/Elder Law Attorney
Power of Attorney (Finance)
Guardian for Minor Children
Credit Cards/Lines of Credit
Investment & Brokerage Accounts
Retirement Plans (401k, IRA)
Cloud Storage (Google, iCloud)
Social Media & Legacy Contacts
Additional categories include: Government & Identification, Medical & Healthcare, Housing & Property, Employment & Business, Memberships & Loyalty Programs, Education & Dependents, Pets & Animal Care, Faith & Community and Document Storage Locations and are available on afinalmessage.com.
Final Messages: Your Last Act of Love
Beyond practical details, your loved ones need your words: expressions of love, wisdom, gratitude and closure. Consider writing heartfelt final messages to:
Children (individual letters)
Guardian of Minor Children
How A Final Message Solves This
A Final Message makes compiling both checklists simple and uses an automated "dead man's switch" system to ensure your complete inventory and heartfelt letters reach the right people when you're unable. Through secure, encrypted storage and regular text/email check-ins, the platform bridges the communication gap, delivering both your critical information and your final words of love to those who matter most.
Learn more at afinalmessage.com
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[1] CNBC. "States have $70 billion in unclaimed assets. How to check if any is yours." February 1, 2023. National Association of Unclaimed Property Administrators (NAUPA). https://www.cnbc.com/2023/02/01/how-to-check-if-youre-owed-a-share-of-70-billion-in-unclaimed-assets.html
[2] CNN Business. "Unclaimed property day: More than 30 million people have unclaimed money or assets. Are you one of them?" February 1, 2024. https://edition.cnn.com/2024/02/01/success/unclaimed-property-money-states/index.html
[3] Insurance Business America. "Billions of unclaimed life insurance policies plague North America." March 23, 2015. https://www.insurancebusinessmag.com/us/news/breaking-news/billions-of-unclaimed-life-insurance-policies-plague-north-america-21825.aspx
[4] National Association of Insurance Commissioners (NAIC). "NAIC Life Insurance Policy Locator Matches More Than $1 Billion in Life Insurance Benefits and Annuities to Beneficiaries." September 21, 2020. Multiple sources including Massachusetts Division of Insurance and NAIC reports estimate $6+ billion in unclaimed life insurance benefits nationwide (2020-2023).
[5] National Association of Unclaimed Property Administrators (NAUPA). "Unclaimed Property Programs returned $4.49 Billion Dollars to its rightful owner from July 1, 2023 - June 30, 2024." https://unclaimed.org/
[6] National Association of State Treasurers (NAST). "Unclaimed Property - Unclaimed Bonds." January 30, 2023. Approximately $32 billion in matured U.S. savings bonds left unclaimed. https://nast.org/unclaimed-bonds/
[7] Insurance News Net. "Millions In Life Insurance Benefits Go Unclaimed Annually: NAIC." January 28, 2020. Reports that NAIC Life Insurance Policy Locator tool has helped consumers claim more than $765 million in benefits since 2016. https://insurancenewsnet.com/innarticle/millions-in-life-insurance-benefits-go-unclaimed-annually-naic
[8] NAIC Consumer Survey on Life Insurance Beneficiary Preparedness. Reported by Insurance News Net, January 28, 2020. Survey found only 39% of Baby Boomers (ages 56-74), 30% of Millennials (ages 24-39), and 22% of Gen Z (ages 18-23) feel prepared as life insurance beneficiaries.
[9] U.S. Bureau of the Fiscal Service. "Unclaimed Money and Assets FAQs." States: "There is no governmentwide, centralized source for unclaimed money or other assets." https://www.fiscal.treasury.gov/unclaimed-assets.html
Additional Resources:
National Association of Unclaimed Property Administrators: www.unclaimed.org
MissingMoney.com: Free national database search for unclaimed property
NAIC Life Insurance Policy Locator Service: Free tool to search for unclaimed life insurance policies
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