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How to Find a Lost Life Insurance Policy

How to Find a Lost Life Insurance Policy

After a loved one passes, you will need to go through his or hers belongings. This is a time when people take what they would like, take what the will says they can have, and they just throw a lot in the garbage. Well, what about the financial aspect of this? You will also need to locate the life insurance policy. Sometimes people have trouble doing this and just assume it is lost. You need to make sure you try to find it and that you do not stop until you do. The life insurance part of this is important, especially if they have left behind some debts that you will need to clear. Here are some ways you can find that lost policy.

Initial Questions to Figure Out

Unfortunately, there is no nation-wide database that you can look up and find out more information. You will need to try and figure out the following information. Determine which insurer was the one to issue the policy. If you can figure that out, you will also need to figure out which agent within the company issued it. It would also be helpful to find out if your deceased relative was issued a policy through an employer, through a union, or through some other association. If you can figure these things out, you will be pointed in the correct direction. Do not just give up and take no for an answer.

Contact a Financial Advisor

A lot of people have financial advisors these days to help them handle their finances. If the deceased had a financial advisor, you will need to contact them right away. You need to let them know your loved one has passed on, and you also need to know if they have left behind any debts. If you have not been able to locate the policy, you should just figure out if the financial advisor knows where it is. Advisors will usually recommend, and even help, the now-deceased get a policy. The advisor might also have a copy with them for safe keeping, which is why you should check with them before you move forward. They could hold the key!

Check for the Documents

Perhaps the easiest thing for you to do is just look around the house for any life insurance-related papers. The deceased loved one will have had to pay life insurance bills monthly, and some of those bills might still be around. If you can find those bills, you will be able to figure out how you can claim the coverage. Make sure you check safety deposit boxes as well because that is a likely place for someone to store important documents. If you know who insured the home and car of the deceased, give them a call. They might have also been the ones who issued a policy. It is definitely worth a shot.

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