$5.6 Million returned to Tennesseans

NASHVILLE, Tenn. (WVLT) -- The Tennessee Department of Commerce and Insurance’s (TDCI) announced that Tennesseans received over $17.9 million in 2018 through the Department’s efforts to recover lost life insurance benefits.

Over $5.6 million was returned to Tennessee consumers in 2018 as a result of TDCI insurance investigators intercede between insurance companies and policyholders to get wrongfully denied claims overturned and paid for policyholders.

Additionally, $11,695,834 in life insurance benefits was located in 2018 through the Life Insurance Policy Locator Service.

“I’m proud of the efforts this year by our Insurance Division to help deserving consumers get the benefits of their insurance coverages,” said TDCI Commissioner and NAIC Past President Julie Mix McPeak. “We encourage Tennesseans to always remember to call our team with questions about their insurance coverages or to learn what resources may be available.”

Also, the Insurance Division levied over $600,000 in civil penalties through disciplinary actions taken on behalf of Tennessee consumers against licensees who were found to be in violation of state insurance laws.