How to Find Active Life Insurance Policies

An active life insurance policy represents a contract that remains in force, for which benefits would be paid upon the insured’s death. Individuals often seek to locate such policies when they are unaware of an existing policy, or when a policyholder has lost track of their own coverage. Millions of dollars in life insurance benefits go unclaimed annually, often because beneficiaries are unaware of the policy’s existence or cannot locate the necessary documentation. Finding these policies ensures that intended financial support reaches beneficiaries, providing security during a difficult time.

Gathering Necessary Information and Initial Searches

Locating an active life insurance policy begins with a thorough personal investigation and the collection of specific information. It is helpful to gather the deceased’s full legal name, including any former names, their Social Security Number, date of birth, and date of death. The last known address and details about previous employers can also be beneficial. A death certificate is a required document for any official search or claim.

Begin the search by reviewing the deceased’s personal records and belongings. Check physical documents in safe deposit boxes, personal files, and old mail for policy documents, premium notices, or correspondence from insurance companies. Examine bank statements for recurring premium payments, which can indicate an active policy. Tax returns may also show records of payments to life insurance companies.

Engage with individuals who may have knowledge of the deceased’s financial affairs. Contact financial professionals such as estate planners, accountants, financial advisors, or attorneys the deceased may have used. Reaching out to former employers is also valuable for identifying potential group life insurance policies. Also check with companies that provided other insurance, like auto or home.

Utilizing Official Search Tools

Once initial personal searches are complete, several official tools are available to help locate active life insurance policies. The National Association of Insurance Commissioners (NAIC) offers a free online Life Insurance Policy Locator Service. To use this service, submit a search request online, providing information such as the deceased’s Social Security Number, full legal name, date of birth, and date of death.

Your request is stored in a secure database, and participating life insurance and annuity companies search their records. If a policy is found and you are the beneficiary, the insurance company will contact you directly, typically within 90 days. The NAIC itself does not provide policy or beneficiary information directly.

The Medical Information Bureau (MIB) also serves as a resource, primarily for identifying life insurance applications. MIB is a not-for-profit organization owned by member insurance companies, acting as a data exchange. While MIB reports do not confirm active policies, they can indicate if an individual applied for coverage within the last seven years. You can request a consumer file from MIB, which shows dates of previous life insurance applications and coded medical information. An MIB report request often requires a completed and notarized application, an original death certificate, and a fee.

State Unclaimed Property Divisions are another avenue, as states hold unclaimed funds, including life insurance proceeds, when insurers cannot locate beneficiaries. Insurers must turn over unclaimed benefits to the state after a period, which varies by state. You can search for unclaimed property through individual state treasurers’ websites or MissingMoney.com, which aggregates data from most states. Searching usually involves entering the deceased’s name and previous addresses. If a match is found, the state’s unclaimed property office will provide instructions on how to claim the funds, often requiring identity verification and supporting documentation.

Understanding Policy Information and Filing a Claim

After successfully locating a life insurance policy, the next steps involve understanding its details and initiating the claims process. Once the policy number and the insurer’s name are known, contact the insurance company directly. Review the policy documents to identify information including the policy number, policy owner, insured individual, beneficiary designation, policy type, face amount, and any applicable cash value. This information is crucial for confirming your status and the policy’s terms.

To file a claim, you will need to provide a certified copy of the death certificate and complete the insurer’s claim form. Insurers often make claim forms available online or can send a packet by mail. It is important to fill out the claim form accurately and completely, as errors can delay processing. Some insurers may accept a copy of the death certificate, but an original certified copy is often preferred or required for larger benefits.

You will also need to prove your identity and beneficiary status. This involves providing a government-issued photo identification, such as a driver’s license. The insurer will verify your beneficiary designation. While there is no strict deadline for filing a life insurance claim, it is advisable to do so without undue delay. Insurers process claims within a few weeks to a month, though some may take longer if additional investigation is required.