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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

New Report: The Top 5 Places Seniors Have Hidden Unclaimed Property

New Report: The Top 5 Places Seniors Have Hidden Unclaimed Property
Unclaimed Property for Seniors: A New Report From Beca Life Settlements
Recovering even one of these hidden assets could cover prescriptions, travel, or a grandchild’s college savings.

Many seniors sit on lost money they could reclaim right now by finding their unclaimed property. These five overlooked assets often hold more value than you might think. Recovering them can provide an income boost, and doing so doesn’t have to be hard.

1. Life Settlement

A life settlement converts a no-longer-needed policy into cash. A buyer will pay you more money than if you surrendered the policy to your life insurance company, and the proceeds are often tax-advantaged, making it a great way to fund home repairs or medical care. You generally need to be age 65 or older with a policy face value of at least $100,000. Make sure you get several quotes before accepting one because it’s like selling a house—you wouldn’t take the first offer a buyer gives you. Let buyers compete for your policy. More info here.

2. Unclaimed Property

States safeguard unclaimed property such as dormant bank accounts, uncashed dividends, and the forgotten contents of safe-deposit boxes. They also hold unclaimed funds from utility deposits and rebate checks. You can find unclaimed money through a free unclaimed money search by Social Security Number on MissingMoney.com.

I’ve tried missingmoney.com for a Florida relative and it worked well. You may wonder “is missingmoney.com legit?” Yes, it is. MissingMoney.com is from the National Association of Unclaimed Property Administrators (NAUPA). You may also want to check other sites for your state with searches like “California unclaimed property” and “Florida unclaimed property.”

3. Reverse Mortgage

Your home equity can become income through a reverse mortgage, which you can receive a line of credit, steady checks, or one lump sum. I've found clear guidance from HUD counselors, and their advice is free. Eligibility starts at age 62 and the home must be your primary residence. It’s definitely worth a look.

4. Forgotten Pensions

Job changes scatter your retirement benefits in different places, so look for old 401k balances and pension promises via the Pension Benefit Guaranty Corporation and Department of Labor databases or the National Registry of Unclaimed Retirement Benefits. Finding old 401(k)s and rolling them into an IRA simplifies taxes and your investment choices.

5. Annuities

Seniors may have forgotten annuities purchased years ago through employers or insurance agents. These contracts can be overlooked when companies merge, change names, or if paperwork was misplaced, potentially leaving valuable retirement income unclaimed.

Key Takeaways

The top five hidden places seniors have unclaimed property are their own life insurance policies (getting a life settlement), unclaimed property, reverse mortgages, forgotten pensions, and old life insurance policies.

Recovering even one of these hidden assets could cover prescriptions, travel, or a grandchild’s college savings.

With over two decades of combined experience, Yehuda Tropper and Chaim Tropper at Beca Life Settlements bring deep industry knowledge and hands-on expertise to life settlements. They've reviewed thousands of policies, advised hundreds of seniors, and built strong relationships with brokers and buyers to help clients make smart, informed decisions.

Media Contact
Company Name: Beca Life Settlements
Contact Person: Yehuda Tropper
Email: Send Email
Phone: +1 848-456-8333
Address:1815 Lakewood Road Suite 107
City: Toms River
State: NJ
Country: United States
Website: www.becalife.com

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