How to Find Out If Someone Has a Life Insurance Policy After Death
Navigate the process of finding a life insurance policy after death. Get guidance on locating benefits for the deceased.
Locating a life insurance policy is a significant part of managing a loved one’s affairs after their death. These policies provide financial support to designated individuals. Uncovering any existing policies requires a systematic approach.
Gathering Essential Information and Documents
Beginning the search for a life insurance policy requires gathering specific information and documents. Obtain the deceased’s full legal name, date of birth, date of death, and last known address. This helps narrow down potential insurers or financial institutions.
A Social Security Number (SSN) is useful, as many financial institutions and insurers use it as a primary identifier. Any past addresses or known financial account information, such as bank account numbers or investment details, can also provide leads.
The official death certificate is required by most insurance companies to process a claim. Obtain certified copies from the vital records office in the state where the death occurred. Multiple certified copies are advisable, as various entities may require their own.
Searching Personal Records and Direct Contacts
Once the foundational information and documents are compiled, search the deceased’s personal records and contact their known associates. Begin by examining the deceased’s home office, personal files, and any safe deposit boxes. Look for physical policy documents, premium payment statements, or correspondence from insurance companies. Digital records, including emails and cloud storage, should also be reviewed.
Reviewing the deceased’s bank statements and credit card bills can reveal recurring premium payments, which often include the name of the insurance company. It is helpful to examine statements from several years prior, as policies may have been in force for a long time.
Contact individuals and entities closely associated with the deceased. Close family members, friends, and trusted advisors such as financial planners, estate attorneys, or accountants might have knowledge of existing policies. Current and past employers, unions, or professional organizations should be contacted, as group life insurance policies are often provided as an employee benefit. Banks where the deceased held accounts might also have records of premium payments or policy information.
Leveraging Industry Resources and Unclaimed Property Databases
When personal searches do not yield results, several industry resources and public databases can assist in locating a life insurance policy. The National Association of Insurance Commissioners (NAIC) offers a Life Insurance Policy Locator Service, which is a centralized tool for consumers to find policies. You can submit a search request through their online portal by providing the deceased’s information, and participating insurance companies will check their records. Insurers typically respond directly to the requester or the beneficiary if a match is found, with the process potentially taking 90 business days or longer.
The Medical Information Bureau (MIB) also serves a role in the insurance industry by sharing information among member life and health insurance companies regarding applications. If a person applied for individually underwritten life insurance, there might be a record with MIB. You can request a deceased individual’s MIB report, which may indicate if and when an application was made, though it does not confirm if a policy was issued or is still in force. The MIB offers a service to obtain a deceased individual’s record, which can cost around $20 and typically takes 10 to 20 business days to process.
State unclaimed property divisions are another important avenue to explore, as these agencies hold billions in unclaimed funds, including forgotten or matured life insurance benefits. If an insurance company cannot locate a beneficiary, they are often required to turn over the death benefits to the state’s unclaimed property fund after a specified period, typically between three and five years. You can search the unclaimed property database for the state where the deceased lived, as well as any other states where they previously resided or worked. The National Association of Unclaimed Property Administrators (NAUPA) provides a central website, missingmoney.com, that links to individual state unclaimed property databases, making it easier to conduct a comprehensive search across multiple states simultaneously.