How to Find a Lost Life Insurance Policy? In the real world, people often inform their beneficiaries that they purchased life insurance coverage to cover expenses when they are no more. They will provide information on the company they purchased life insurance from and the necessary paperwork for filing a claim. Unfortunately, not every policyholder does this, causing most beneficiaries to ask how to find a lost life insurance policy.
Most policyholders do not like to talk about death with their families to not instill fear in them. This is one of the reasons why they do not inform them about their life insurance. Not keeping your beneficiaries aware may lead to the loss of a life insurance policy. Finding a missing life insurance policy is not difficult. Losing your life insurance policy may be very easy to do but quite difficult to retrieve. This article provides steps for finding a lost life insurance policy if your or your loved one’s insurance is missing.
Ways to Find a Lost Life Insurance Policy
Recently, how to find a lost life insurance policy has been addressed by most insurance companies. This makes it easier for people to find their way around it. There are different ways to find a lost life insurance policy. Through name, records, and so on, you can easily find the lost policy. Nonetheless, here are a few methods for locating life insurance:
Whether or not the policyholder is still alive
If you lost your life insurance policy and have been paying premiums regularly, you may be able to obtain another copy of your policy. Just contact your insurer and explain the situation, and you can easily get a new copy of your lost insurance policy. You will need to first confirm your identity before the insurance company will provide you with a new copy. In deceased policyholders’ absence, beneficiaries file a claim with the insurance company without needing policy paperwork.
Review Personal Records
People’s records and documents contain evidence of their life insurance policies, which beneficiaries can review if the policyholder is deceased. Bank statements can be a valuable tool for locating lost insurance policies, as they may provide proof of life insurance premium payments. Another way to find lost policies is through tax returns. The deceased’s life insurance company can be contacted to file a claim, allowing them to show cash value interest or other payments made.
Seek Financial Advice from Advisors
You may seek advice from trusted financial advisors, accountants, or insurance agents, or a personal lawyer may also be a good way to find lost life insurance policies. People may be aware of the deceased loved one’s life insurance policy. You may also consider seeking help from trusted friends, spiritual advisors, or any other important persons.
Verify with the home and auto insurers of your loved one
People often buy different kinds of insurance policies from one insurance company. Obtain documentation of your loved one’s auto or home insurance to verify if they also have a life insurance policy with their company.
Get in Touch with Their Employers
Most employers offer a type of life insurance to their employees. If your deceased loved one has retired, you can confirm their life insurance coverage is still active by checking with their employer or former employer.
Communicate with Trade Unions and Other Professional associations
Veterans’ associations, trade unions, alumni associations, and other types of professional and social organizations most times offer group life insurance coverage to their members. If your loved one is a member of any of these groups, it is essential to check if they have life insurance policy coverage.
Check Online Databases
Online databases like the MIB Underwriting Group Database can assist in finding a loved one’s life insurance policy records. You can verify if your loved one has an active life insurance policy through them. The NAIC Life Insurance Policy Locator is a database that enables users to request records from various life insurance companies to verify if their loved one has a life insurance policy.
Check Public Records
Life insurance policies may be stated in public records. To ensure your loved one’s wishes are followed, it is essential to check their will, as it may be listed there. However, if your loved one was divorced, their life insurance policies may be stated in the documents involved.
