How to Find a Lost Life Insurance Policy – Experian
When a loved one dies, reviewing everything they left behind can seem overwhelming. And while dealing with paperwork during grief is the last thing you want to do, life insurance benefits can be crucial in covering funeral costs, settling a person’s debts, or helping surviving family members pay their bills. /p>
What if you don’t know if your loved one had life insurance or can’t find their policy? To find a loved one’s lost insurance policy, you can search your records, contact your financial advisors, or check your safe deposit box. Read on for other ways to find a missing life insurance policy.
1. find your files
Search your loved one’s paper files and computer for the life insurance policy. You can find a copy of a life insurance application, which can also help: In addition to listing a possible insurance policy, the application will include a list of any other life insurance policies you had at the time you applied.
2. search online
- Use the Life Insurance Policy Locator Service, a free tool from the National Association of Insurance Commissioners. When you submit an application using this tool, participating insurance companies are asked to search for policies.
- Use your state insurance department’s policy finder, which will direct your query to all participating life insurance companies that sell policies within that state.
- If your state does not have an online policy finder, contact your state insurance department for help locating the policy.
3. ask your financial advisers
Your loved one’s financial planner, accountant, attorney, or insurance agent may know about existing life insurance policies.
4. contact your auto or home insurance company
People often bundle several types of insurance, such as buying home insurance and life insurance from the same company. Contact the claims or customer service department of the company where your loved one had auto or home insurance to see if there is also a life insurance policy.
5. contact your current and former employers
Many employers offer group term life insurance as an employee benefit. Some companies even offer this insurance to spouses or dependents. check with your loved one’s, surviving spouse’s and children’s former and current employers for life insurance policies through their company.
6. review your bank records
Bank statements or checks showing payments to insurance companies may help you find a life insurance policy. You may need to contact bank officials to access your records and provide proof that you are entitled to this information.
7. check your safe
If you have the key to your loved one’s safe deposit box, ask the bank how to access it. you will likely need to provide documents that prove your relationship. If you’re not sure if they had a safe deposit box, you can contact the bank where they held their accounts, search for canceled checks or bank records for payments to a bank, or check your mail for notifications requesting a safe deposit box payment.
8. contact the organizations your loved one belonged to
Contact professional associations, unions, fraternal organizations, credit unions, and other groups your loved one belonged to. Like employers, organizations often offer group term life insurance for members.
9. review your tax returns
Income tax returns may show interest income from a cash value permanent life insurance policy. If your family member borrowed against a life insurance policy, the statements must show any interest paid on the loan.
10. view your mail and email
Life insurance companies often send bills, statements, dividend notices, and other updates. monitor the person’s mail and email for at least a year for this type of letter. that physical mail be redirected to your address or to a PO Box. box to prevent it from falling into the hands of identity thieves.