How to Find Lost Life Insurance Policies
Never mind finding the best life insurance quotes online sometimes just hanging onto the policy you have can be a mission. From trying to track down the missing policy of a deceased relative to making sure that your own family don’t have to do the same, here are some tips.
Use the records that are available.
Unfortunately, there is no national database of policies, although lost life insurance policies are hardly rare. Estimates put the unclaimed national total at about 1 million right now! If the loved one who’s policy you’re searching for passed recently, you can try a basic document check. Look for records of premium payments, or bills or other communications from the insurer. You may also have some luck with their previous employer, benefits administrator or financial planner/accountant- anyone who might know what they did with the policy. Don’t forget to look out for mail regarding the policy, and check all facilities such as safe boxes. Even old tax returns can assist, as they will often times show interest received from or paid to such a policy. Browser history can also indicate, for example, if they’ve been looking to compare life insurance quotes online and who with.
Contact likely companies.
Most people don’t hop too far when choosing policies. If you’re deceased had a number of policies with one company, try asking them for a search for a life policy, If you can provide them with a social security number and other pertinent information, you’re much more likely to track down the policies you need. Remember that, should the deceased be a younger person, most people like to track down the best life insurance quotes online- you may be able to get a sense of who from via email correspondence or browser history.
If the deceased has been passed for a while, however, such tips as looking for evidence of them comparing life insurance online won’t help. However, it’s possible that it will be already handed to the unclaimed property office of the state in which they lived. Missingmoney.com is a good place to start your search. It will also link you to unclaimed property agencies. Do remember that claims that make a hit on this database will need to be proved and substantiated, so make sure you have all paperwork including a death certificate.
Try state help and databases
The best life insurances quotes online aren’t all the net brings us. There’s the MIB database, a membership cooperation that fighter fraud and has tools in place to track policies. It’s only relevant for policies since1996, however, and there is a cost associated with it. Alternatively, try enlisting the help of state insurance departments- some have locator services.
Whatever road you take to track the missing policy, take heed of the lesson to be learnt- your loved ones don’t need this additional burden. Don’t just use the net to compare life insurance quotes online, let some of the great database and organisational tools out there keep you from losing your own policy.