While insurance premiums deducted from your bank account each month are immediately reflected in household budget calculations, it is easy to overlook whether there is money owed to you by insurance companies. If you signed up for insurance long ago, you may not even clearly remember the product name or maturity date. If you have already reduced household expenses by reviewing your premiums, it may be worth changing the direction of your checks. In addition to asking 'how much do I pay each month,' you can also check 'is there any money I am entitled to receive but have not claimed.'

■ Hidden insurance money totals 10.3 trillion won... 'Money confirmed for payment but not claimed'

According to data released by the Financial Services Commission in July, hidden insurance money amounted to approximately 10.3 trillion won as of the end of 2025. Last year, about 3.247 trillion won in hidden insurance money was returned to consumers across some 800,000 cases. However, this represents overall refund performance and does not mean that everyone who searches will find insurance money.

Hidden insurance money refers to insurance payouts whose amounts have been confirmed but have not been claimed. Causes include consumers being unaware that the payment date or maturity specified in the insurance contract has arrived, or not accurately knowing the applicable interest rate and thus failing to claim the money. In some cases, changes in address or contact information prevent consumers from receiving notices from insurance companies.

■ Check 24/7, 365 days a year on 'Find My Insurance'... beware of similar websites

Searching for and claiming hidden insurance money can start with the 'Find My Insurance' service provided by the Korea Life Insurance Association and the General Insurance Association of Korea. By visiting the official website and completing guided procedures such as identity verification and consent to provide information, users can check their insurance enrollment records and unclaimed insurance payout details. Online searches are available 24 hours a day, 365 days a year.

However, caution is needed against entering personal information based solely on the name 'hidden insurance money search.' The life and non-life insurance associations warned that there have been cases where sites or apps with similar names collected personal information and used it for insurance sales, and urged users to verify the operating entity and the purpose of collecting and using personal information before using a service. Before searching, it is necessary to check whether the service is the official 'Find My Insurance' operated by the associations.

Search results show the insurance company, product name, and contract status. If there is unclaimed insurance money, you can check the type and amount of the payout and proceed according to the claim instructions. If you have questions about the search results or need further confirmation, it is advisable to contact the relevant insurance company.

■ Check interest conditions and search scope before receiving payments

Searching and actually receiving the money should be considered separately. In particular, you should not assume that interest will continue to accrue favorably if the insurance money is left unclaimed. The Financial Services Commission notes that depending on the time elapsed after maturity, the applicable interest rate may decrease or no interest may accrue at all. When deciding whether to claim, the interest conditions of the contract should also be checked.

The scope of the search also differs. Find My Insurance provides records of both life and non-life insurance enrollments, but mutual aid and insurance products subscribed to through the post office, community credit cooperatives, national agricultural cooperatives, or fisheries cooperatives are not covered. If you have subscribed to such products, you must check separately with the relevant institution.

Checking old insurance policies does not necessarily have to lead to contract termination or signing up for new products. Simply organizing your enrollment records and checking whether any insurance payouts remain to be received is meaningful in itself. If you have kept track of the money going out each month, now it is time to check the money that should be coming in.