What To Do If You Can’t Find A Deceased Loved One’s Insurance Policy

It’s not unusual for a bereaved family to feel helpless and clueless when it comes to finding the insurance policy or the last will and testament of a loved one who had just passed away. In most cases, family members do not talk about death, and they feel uneasy discussing certain matters that should be taken care of in the event of their passing. However, this is actually a big mistake. If you care enough for your spouse, children, sibling, parents, or any loved one for that matter, then you should be practical and tell them ahead where you keep important documents such as a will or an insurance policy. This will really save them a great deal of trouble and frustration while coping with your demise.

Start Searching Through Cabinets or Safety Deposit Boxes

When we have important documents, we usually keep them in a safe or in filing cabinets. So as expected, this is reasonably the first location or area to look through in case your loved one did not inform you beforehand where his insurance policy is. If not in your safety deposit boxes at home, you can check the bank safe deposit boxes that your dead family member possibly had. You might have to wear your “investigator hats” and “researcher hats” to accomplish all the details that you need.

Find Out If They Had An Insurance Agent

If you know that your loved had an insurance agent, you can focus your efforts on finding out who the agent is so you can ask him or her your questions. You can search through your deceased family member’s phone book, statements, calling cards, and other things that might give you a clue. If you’re fortunate enough to have known the agent before and can easily keep in touch with that person, then the easier it will be for you.

Check With Your Loved One’s Previous Employers

Another great way to seek information about your loved ones’ insurance policy is through their employers. Chances are they may have had a policy through the company that they worked with. Check with human resources and find out if the insurance is still valid.

Inquire From The National Association of Insurance Commissioners (NAIC)

Aside from the above-mentioned ways, you can also inquire from NAIC or the National Association of Insurance Commissioners. NAIC, through its life insurance company location system, helps you get in touch with the right people who can most possibly help you find what you are looking for. However, the information that they can give may only be limited as there are no national archives or centralized records yet for all insurance policies from different insurance companies. It is also worth looking in the comptroller office at the state from where your loved one was based to find out if there is a certain amount of money that they should be getting. There is also one website that could be helpful—www.missingmoney.com. A lot of people have found this website to be worthy, so it would also be wise to check that out.

Ask Assistance From A Private Search Firm

If you feel hopeless on the above-mentioned ways of looking for your loved ones’ insurance policy, you may want to resort to hiring a private search firm to assist you. One company which has a policy locator service is the MIB Group. A person who has been given authority to facilitate transactions concerning a person’s estate can browse through the company’s millions of insurance policy records. With a bit of determination and luck on your side, you may be able to find the life insurance that your family member applied for years ago. Of course, there is a fee that comes with this service. But if you feel that you have exhausted all means to help you with your search, and all your efforts have so far been futile, asking firms like the MIB Group for help is also a wise and resourceful move.

Flickr photo credit: Kevin H.