Finding Life Insurance Policies Of The Deceased: A Guide

If you've lost a loved one and are unsure if they had life insurance, you're not alone. Locating a missing policy can be challenging, especially while grieving. Millions of dollars in life insurance benefits go unclaimed each year. To find out if the deceased had life insurance, you can try the following:

- Speak with family and friends

- Search the deceased's documents and correspondence

- Contact insurance companies

- Reach out to the deceased's advisors

- Use a life insurance policy locator

It's important to act promptly, as insurance companies may deduct unpaid premiums from policy benefits if they are unaware of the policyholder's passing.

Check their documents

Checking the deceased's documents is a crucial step in determining whether they had life insurance. Here's a comprehensive guide to help you navigate this process:

Physical Documents:

Start by gathering any physical documents that belonged to the deceased. This includes paperwork, files, and personal belongings stored in their home, business, or safe deposit boxes. Safe deposit boxes may require a key, death certificate, proof of relation, and photo ID for access. Check for any records or indications of a life insurance policy, such as:

• Business cards of insurance agents, attorneys, accountants, or financial advisors.
• Bank statements or cancelled checks showing payments to life insurance companies.
• Address books and planners with relevant contacts.
• Old bills, mail, or email for premium notices, updates, or dividend statements.
• Tax returns for the past two years, which may show interest income or expenses related to life insurance.
• Applications for life insurance policies, which may list other policies owned.

Digital Documents:

In addition to physical documents, don't forget to check the deceased's digital footprint:

• Review their emails for any correspondence with insurance companies, premium notices, or policy updates.
• Check their online bank statements, transactions, or cancelled checks for payments to life insurance providers.
• Examine their digital files, including any scanned or downloaded documents that may be relevant.
• Look through their internet browsing history for any insurance-related searches or bookmarked websites.

Understanding the Documents:

Once you've gathered the relevant documents, it's important to review and understand their content:

• Make a list of any insurance companies, agents, or financial advisors mentioned in the documents.
• Note down policy numbers, dates, and any other relevant details mentioned in the records.
• Identify any beneficiaries named in the documents, as this could be important for claiming the insurance.
• Check if there are any indications of premium payments, dividend notices, or policy updates.
• Look for any clues that suggest the deceased may have had multiple insurance policies.

Taking the Next Steps:

After reviewing the documents, you can take further steps to confirm the existence of life insurance:

• Contact the insurance companies, agents, or financial advisors mentioned in the documents. Inquire about the deceased's policies and provide any necessary information to access their records.
• If you have the policy number, contact the insurance company directly to confirm the policy's validity and inquire about the claims process.
• If you are a beneficiary, gather the required documentation, such as proof of identity and the death certificate, to initiate the claims process.
• If you are unsure whether the deceased had life insurance, consider using free online tools like the National Association of Insurance Commissioners' (NAIC) Life Insurance Policy Locator Service or similar services offered by other organizations.

Remember, checking documents is just one aspect of determining whether the deceased had life insurance. Combining this with other methods, such as speaking with family and friends, contacting employers, and online searches, can increase your chances of finding the information you need.

Use the NAIC Life Insurance Policy Locator

If you are unsure whether your deceased loved one had a life insurance policy, you can use the National Association of Insurance Commissioners' (NAIC)' Life Insurance Policy Locator (LIPL). This free online tool helps consumers find their deceased loved ones' lost life insurance policies and annuity contracts.

Here's how to use the NAIC Life Insurance Policy Locator:

• Go to naic.org in your web browser. Hover over 'Consumer' and click 'Life Insurance Policy Locator' under 'Tools'.
• Review the welcome page and agree to the terms of use.
• Enter your name, mailing address, and email address.
• Submit a search request by entering the deceased's information from their death certificate, including their Social Security number, veteran status, and your relationship to the deceased.
• After filling in all the required fields, click the submit button.
• Your request will be stored in a secure, encrypted database that participating life insurance and annuity companies can access through a secure portal.
• You will receive a "Do Not Reply" email confirming the request details you submitted. If a policy is found and you are the beneficiary, the insurance company will contact you directly. If no policy is found or you are not the beneficiary, you will not be contacted.

Please note that the NAIC does not have any policy or beneficiary information. If you need assistance, you can contact the NAIC Help Desk at [email protected] or review the Frequently Asked Questions (FAQ).

Contact their financial advisors

If you are the next of kin or a beneficiary of the deceased, you can contact their financial advisors to find out if they had life insurance. This can include accountants, attorneys, or financial professionals. If you are unsure of who their financial advisor is, you can look through the deceased's personal papers, or check their contacts for the details of an insurance agent.

Financial advisors should be able to provide information about any life insurance policies the deceased held. They may also be able to advise on the next steps, such as how to file a claim and what documentation you will need. This may include the full legal name of the deceased, their date of birth, their social security number, and your relationship to the deceased.

If you are unable to get in touch with the financial advisor, or they do not have the information you need, there are other ways to find out if the deceased had life insurance. You can try contacting the insurance company directly, using an online policy locator, or checking the deceased's personal belongings and digital records for any relevant information.

Search their mail and email

If you're trying to find out whether a deceased person had life insurance, one of the steps you can take is to search their mail and email. This is because, even if the policy payments are up to date and there are no notices of premiums due, the insurance company may still send an annual notice regarding the status of the policy or a statement of a dividend.

To start, check the deceased's post for any insurance-related mail. This could include premium or dividend notices, or annual notices regarding the status of the policy. If the deceased conducted their business primarily via email, then their email inbox may also contain relevant information. Check for emails from insurance companies, as well as any emails relating to insurance payments.

If you have access to the deceased's email, you can also use it to request information from insurance companies. Many insurance companies will ask for proof that you are the beneficiary before providing any information, but if you can provide this, then contacting them via email may be a quick and convenient way to get the information you need.

If you are an executor of the deceased's estate, or have been appointed by the court to manage their affairs, then you are entitled to ask for information about their life insurance. In this case, searching their mail and email for relevant information is a good first step. You can also use any information you find, such as the name of the insurance company or the policy number, to start the claim process.

Contact their previous employers

If you're trying to find out if a deceased person had life insurance, one of the steps you can take is to contact their previous employers. This is because many people receive free or low-cost life insurance policies through work or as a member benefit. Even if the person was retired, the policy could still be in place.

If you are responsible for sorting out a loved one's financial affairs after their death, you should also look for the deceased person's life insurance policies by speaking with their financial advisor, reviewing their financial and personal records, and checking with the National Association of Insurance Commissioners.

There are several other steps you can take to find out if a deceased person had life insurance. You can:

• Speak with family and close friends, as people close to the deceased may have information about the policy.
• Contact the insurance company if you know the name of the insurance company or agent.
• Review the deceased's documents and correspondence, both physical and digital.
• Contact the deceased's advisors, such as their accountants, attorneys, or financial professionals.
• Use a life insurance policy locator, such as the one provided by the National Association of Insurance Commissioners.

Frequently asked questions