LANSING, Mich. (WLUC) – The Michigan Section of Insurance policy and Fiscal Providers (DIFS) assisted recover additional than $16.2 million for buyers for the duration of the 2020 fiscal 12 months, which ended Sept. 30.
DIFS’ Office of Buyer Products and services served people recover $9 million in settled claims, waived service fees, refunds, and other reimbursements from insurance plan and economic services organizations and its Lifetime Insurance and Annuity Search Provider (LIAS) aided people find yet another $7.2 million in unclaimed everyday living insurance policies and annuity positive aspects.
“As a consumer security agency, DIFS stands all set to enable Michiganders take care of disputes and recuperate owed funds from their insurance plan agents or businesses, financial institutions, credit unions, and other monetary services institutions,” said DIFS Director Anita Fox. “With quite a few people struggling with the economic impacts of the COVID-19 pandemic, finding this cash back again in to the pockets of Michigan people is a lot more crucial than at any time.”
DIFS encourages shoppers to first endeavor to take care of disputes immediately with their insurance policies or economical services service provider. If a resolution simply cannot be achieved, the office can assistance try out to take care of disputes. Complaints can also lead to broader shopper defense steps, this sort of as fines and license revocations.
LIAS is a free company from DIFS that will help track down deceased household members’ daily life insurance policies guidelines or annuity contracts that were being bought in Michigan. Customers with thoughts may well stop by the LIAS webpage, call DIFS at 877-999-6442, or email [email protected] A nationwide useful resource is also offered from the National Association of Insurance plan Commissioners at eapps.naic.org/lifetime-policy-locator.
Any one with queries, issues, or wishing to file a grievance about their coverage protection or economic establishment should call DIFS toll-cost-free Monday through Friday from 8 a.m. to 5 p.m. at 877-999-6442 or by browsing Michigan.gov/DIFScomplaints.
The mission of the Michigan Division of Insurance and Financial Companies is to make certain entry to risk-free and protected insurance and economical services essential for the prospect, security, and good results of Michigan residents, though fostering financial development and sustainability in both equally industries. In addition, the Office gives consumer defense, outreach, and economical literacy and instruction companies to Michigan citizens. For additional facts, visit Michigan.gov/DIFS or observe the Section on Facebook, Twitter or LinkedIn.
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