Metropolitan Life Insurance Co. is looking for people in Oklahoma
and planning to give them money.
This is part of the MetLife Family Reunion program, which was
launched in June to find 12,000 Oklahomans who hold paid-up life
insurance policies worth a total of $15 million to $16 million.
``This automatically makes for a neat re-establishment of
contact,'' said Jay Stout, administrator of the 50 Penn Place office
in Oklahoma City and president of the Veterans Association for
MetLif for Oklahoma. The Veterans Association is for people who
have been with the insurance company for 20 years or more.
``The company is trying to give back money to people so that it
doesn't have to be given to the state," he said. "It is not the
state's money, and it is not Metropolitan's money. It's the
The industrial policies, as they were called, were issued
between 1879 and 1965, and had weekly premiums of a nickel or less.
An agent went out each week to collect the premiums. The face
values of the policies are $1,000 or less and could be worth up to
four times their original value, Stout said.
In 1964 the company waived premiums for these small policies.
``Many people forgot they had them,'' he said. ``When they were
first bought, many of the policies were worth $500, now they are
So far, the program has located approximately 5,000 people with
paid-up policies in Oklahoma, Stout said.
``These were the people who helped to make Metropolitan the
giant it is today,'' Stout said.
More than 140 MetLife sales associates in 15 Oklahoma branch
offices have been involved in the search. A barbecue was given over
the weekend in Tulsa and about 2,000 newly located policyholders
attended, Stout said.
Oklahoma's program coincides with the company's ``Year of the
Client'' slogan. The state is the third to be involved in the
reunion program which has already targeted Connecticut and Rhode
Island. The program will eventually cover the nation, Stout said.
Oklahomans who believe they are the owners of these policies may
contact MetLife Family Reunion, 1 Madison Avenue, New York, NY 10010
for more information. . .
- Electronic Data Systems recently signed a five-year
agreement to provide data processing and back-office services to
First Fidelity Bank NA, 1400 S. Meridian Ave.
First Fidelity, which has three branch offices including the
recently acquired Capital National Bank, will process out of
Electronic Data Systems' center in Oklahoma City. . .
- The Homer Miller Co. of Oklahoma City has earned a seat at
the specialty advertising industry's annual multi-million dollar
roundtable, which recognizes those industry distributors whose
annual sales reached $2 million or more in 1989, according to the
Advertising Specialty Institute, the industry's trade information
Specialty advertising utilitizes coffee mugs, T-shirts, caps and
pens, said Virginia Martin, administrative coordinator. …