The Vermont treasurer's office recently accepted $282,056 in unclaimed property as a result of a breakthrough agreement with national insurance giant John Hancock.
A further estimated $300,000 is to follow, according to Treasurer Beth Pearce, as Vermonters gain access to money unclaimed from life insurance and annuity contracts.
"Vermont was one of the first states to initiate an audit of John Hancock to determine whether money was due to Vermonters from previously unreported life insurance accounts," Pearce said. "These accounts include ones that the owners had lost track of and accounts where money was due beneficiaries who were unaware of them."
Verus Financial LLC conducted the audit on behalf of Vermont, 36 other states and the District of Columbia.