Florida searching for AIG insurance beneficiaries

TALLAHASSEE, Fla. (AP) -- Florida is seeking the rightful owners of $25 million in unclaimed life insurance benefits obtained through a settlement with American International Group Inc.

Chief Financial Officer Jeff Atwater said Wednesday that the 61,271 unclaimed accounts are the first batch of several expected to be turned over by AIG.

The settlement is the fifth that Florida has reached with national life insurers. In each case the company failed to use the Social Security Administration's Death Master File to locate life and annuity beneficiaries although many have used the file to stop making annuity payments.

Florida's Bureau of Unclaimed Property now will attempt to return the money to owners or heirs.

People can search for unclaimed property on the bureau's web page -- www.FLTreasureHunt.org -- or by calling 1-888-258-2253.