If the policy holder dies, and you are not able to locate the life insurance policy, there is no comprehensively complied database at state or national level that can be consulted. But to search life insurance policy, you can find out which company had issued the policy or find out the broker or agent who might have sold or serviced the policy.
Useful Tips To Search Life Insurance Policy
You can search life insurance policy in any storage place such as bank safe deposits and files. Look through the address book to find out any names of agent or the company. If you can get in touch with the agent or company that had sold other insurance to the deceased, you can probably find out about the life insurance policy.
You can contact the previous employer who may have the record of group policy. See the chequebook and find out if any payment has been made to life insurance company. You can also look for dividend or premium notices. There will be no notice from the company for due premium payment if the policy has been paid up. But, company may send other notice informing about status of the policy.
To search life insurance policy, you can contact the relevant state insurance departments. Life Insurance Company Location System helps you find personnel of state insurance department and they might be able to identify the companies that might have worked on deceased s life insurance.
You can also check with unclaimed property office of the state. If the company is aware of death of the policy holder but is unable to locate the beneficiary, it has to turn the benefit of death to the state where policy was bought. You can hence check for any unclaimed money from state comptroller s department.
To search life insurance policy, you can also contact a private service that can help you search the lost or misplaced life insurance. There are many such companies who charge the fee and work on your behalf to contact the insurance companies and find out the insurer for the deceased. This service is also available online. You can also pay $75 to search all the applications for individual life insurance processed in last 12 years. You must know that this amount is for single search and it may not be successful. On an average, there is only 1 match for every 4 tries.
Searching the lost life insurance policy is not easy but there are many ways to find it out. Before you give up, go through them one by one and you may succeed. Insurance companies are willing to give the beneficiary the rightful due, but survivors must take the responsibility of finding the policy and claiming the benefits.
