Demutualization is the process of converting a mutual life insurance company, which is owned by its policyholders, into a publicly traded stock company owned by shareholders, pursuant to a plan of conversion approved by policyholders and government regulators. The amount paid to each policyholder is based on a number of factors, including length of time the policy has been in force, face value of the policy, and total premiums paid. For many policyholders, the windfall arising from demutualization can be substantial.

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Shares may be sold at any time, without affecting policy benefits. On April 7, , Metropolitan Life made the conversion from a mutual life insurance company to a stock life insurance company. Over eleven million policyholders became eligible to receive trust interests representing shares of common stock held in the Metropolitan Life Policyholder Trust, cash, or an adjustment to their policy values in the form of policy credits.

Eligible policyholders were entitled to receive million shares. Compensation took the form of a fixed component of 10 MetLife Inc.

Demutualization - Wikipedia

Several million missing policyholders and heirs aren't aware they are entitled to receive demutualization compensation. Contact efforts were u nsuccessful, due to name changes after marriage or divorce, unreported changes of address , expired postal forwarding orders and non-current beneficiary information.

And a recent government audit found 21 major life insurance companies failed to pay death benefits to beneficiaries even in cases where they knew the policy holder was deceased.

By law, unclaimed demutualization compensation is remitted to the custody of a government trust account until claimants come forward. Unclaimed Life Insurance Policy Benefits Search - Demutualization Claims Metropolitan Life - MetLife.

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John Hancock Mutual Life.