The more I look into this, I don't see that any pre-tax deductions can be taken for life insurance over $50K. I was equating life insurance with LTD, for instance, where pre-tax deductions yield taxable benefits and post-tax deductions yield tax-free benefits. I now don't see how this can apply to life over $50K.
Claiming Unclaimed Property in Oklahoma. In Oklahoma, property is generally presumed abandoned if it has remained unclaimed by the owner for more than five years after it becomes payable or distributable. However, this time limit varies depending on the type of property involved. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming from the state. Reporting Unclaimed Property in Oklahoma. In Oklahoma, a holder of abandoned property valued at $50 or more must file a verified annual report containing information concerning the property required by the Oklahoma State Treasurer. The report must be filed before November 1 for property reportable as of September 1, except that for life insurance companies, the report must be filed before May 1 for property reportable as of March 1.
According to the Internal Revenue Code, Section 6337, the following individuals have the right to redeem the property at any time within 180 days after the date the successful bid is accepted by the IRS: 1  The owners, the heirs, executors, or administrators of the owners, 2  Any person having any interest in the property,