How to Find a Lost Life Insurance policy: 12 Tips for Finding a Lost Life Insurance Policy

But what if a deceased loved one’s policy is missing?

Many people don’t think about the location of a life insurance policy until after their loved one has passed away. According to the National Association of Insurance Commissioners (NAIC), tens of millions of dollars in life insurance benefits go unclaimed yearly because insurance companies don’t know that the policyholder has passed away, and beneficiaries never file a claim. Some people might think they need the policy document to claim the death benefit, but that’s not always true.

If your loved one has passed away, here are some methods to help you find a lost life insurance policy.

2. G>2. Go through the deceased’s paperwork and mail

hen finding a lost life insurance policy, check the deceased person’s mail for any life insurance-related paperwork. Bank statements might also reveal premium payments made to a life insurance company. Additionally, tax returns could indicate cash value interest, insurance company payments, or policy distributions. Once you identify the insurance company, you can contact them directly to report your loved one’s passing and get assistance filing a claim.

• Go through physical and digital files, including bank safe deposit boxes and other storage areas, to locate any insurance-related documents.
• Check bank statements for any checks or automatic payments to life insurance companies.
• Review the deceased’s mail and email for any notifications regarding premiums or dividends. Even if the policy payments are up-to-date, the insurance company may send yearly updates on the policy’s status or dividend information.
• Check the deceased’s tax returns from the past two years for any records of interest income or payments made to life insurance companies. Life insurance companies often pay interest on money in permanent policies and charge interest on loans against the policy.
• Also, review the application for any life insurance policy you find, as it usually lists other policies the person had at the time.

3. Reach>3. Reach out to financial advisors and other key individuals in their life

, a trusted financial advisor, insurance agent, accountant, or personal lawyer will have information about your loved one’s insurance policy. It’s also good to ask spiritual advisors, friends, and other close contacts who might know the policy.

4. Check w>4. Check with your loved one’s auto and home insurance companies

often buy multiple types of insurance from the same company. If you find documents related to your loved one’s car or home insurance, you can contact those companies to see if they also have a life insurance policy for that person.

5. Contact>5. Contact employers

ployers offer group life insurance to their employees. Even if your loved one was retired, it’s a good idea to check with their former employer to see if the group life insurance policy is still in effect.

6. Get in >6. Get in touch with trade unions and other professional associations

nions, veterans’ associations, alumni groups, and other professional or social organizations sometimes provide group life insurance to their members. If your loved one was a member of any of these organizations, it’s a good idea to contact them to check if a life insurance policy is in place.

7. Check onlin>7. Check online databases

arious online tools available to help you find a lost life insurance policy. The MIB Underwriting Group database keeps records of life insurance applications, which might indicate an active policy. The NAIC Life Insurance Policy Locator allows you to request a search of records from participating life insurance companies to find your loved one’s information. Additionally, the National Association of Unclaimed Property Administrators (NAUPA) operates MissingMoney.com, a site listing unclaimed life insurance benefits that were turned over to state governments. If you discover benefits linked to your loved one, you may still be able to collect on them.

Moreover, The National Association of Insurance Commissioners (NAIC) offers a free online tool called the Life Insurance Policy Locator Service, which can help you find life insurance policies. After submitting a request, the NAIC contacts participating companies to check if they have a policy in the deceased’s name. If a policy is located, the company will contact you if you’re the designated beneficiary or authorized to receive the details.

To use the service, you’ll need information from the death certificate, such as the social security number, full legal name, date of birth, and date of death. Click here to use the service

8. Reach out to >8. Reach out to your state’s insurance commissioner’s office and the state department of unclaimed property

tes offer online databases that allow residents to search for lost life insurance policies.If your state doesn’t have this option, you can still contact the state insurance commissioner’s office to request a search for your loved one’s policy. When life insurance benefits go unclaimed, the insurance company usually transfers the funds to the state treasurer. You can find contact details for each state treasurer on the National Association of Unclaimed Property Administrators’ website.

9. Check public >9. Check public records

s might help in finding a lost life insurance policy. Start by checking your loved one’s will. If they went through a divorce, the life insurance policy might also be listed as an asset in the divorce proceedings.

11. Check safe depos>11. Check safe deposit boxes and computer drives for any stored life insurance documents

e important documents, such as life insurance policies, in safe deposit boxes. To access someone else’s safe deposit box, you typically need a court order. The same applies to cloud-based or encrypted computer documents that require a software company’s assistance to unlock.

12. Remember that fee->12. Remember that fee-based services are available if you need additional help

fforts, finding a life insurance policy after a loved one has passed away can sometimes feel overwhelming. In such cases, it’s useful to know that MIB, an insurance membership corporation, offers a fee-based service that may help you find evidence of life insurance applications, though it won’t confirm if a policy was actually purchased. Additionally, several private companies offer paid services to assist in the search for a lost life insurance policy.

Conclusion

Remem>Conclusionost life insurance policy might take some time and effort, but it is possible with the right approach. Even if you can’t find the policy document, having basic information like the insurance company’s name or policy number can often be enough to start a claim. Don’t lose hope—follow the steps outlined in this guide to secure the financial protection provided by a life insurance policy.

FAQs

FAQs

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To find a lost life insurance policy for free, start by searching through personal records, contacting insurance companies, and using online policy locator tools like those offered by the NAIC. Check with employers, associations, and state resources, and consult public records or financial advisors. For more detailed steps, refer to the guide above.

WhatWhat happens if I lost my life insurance policy?

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