Finding a missing life insurance policy can be a great addition to a loved one’s estate after they have passed. The recovered money can be used for funeral or burial expenses, and it never hurts to look around for an old, forgotten policy. Here are twelve ways you may uncover life insurance policies.
1. Look through the deceased’s personal papers for canceled checks to insurance companies.
2. Look through old bills for a policy number or insurance company name.
3. Talk with family and friends who may have shared an agent.
4. Check with an accountant, financial planner, or stockbroker that may have been used.
5. Check with any social, fraternal, or professional organizations or unions that he or she may have belonged to.
6. Sometimes people have all of their insurance with one agent. Look for the name of the insurance agent who may have car, personal property, or health insurance.
7. If the deceased was ill, check hospital records for the name of the health insurance company. Health plans often have a death benefit rider attached.
8. Go to the probate court and get a copy of the deceased’s estate inventory. This is public information and may lead you to a list of the person’s assets.
9. If the deceased was employed at the time of death, check with the employer for any group insurance that may have been provided (if retired, check with the ex-employer, as group coverage may have been converted into individual coverage at retirement).
10. If the deceased died while traveling, check with the travel agent, airline, and Credit Card Company.
11. If the deceased was retired, check with the retirement administrator.
12. If there were any loans outstanding (auto, credit union, mortgage, etc.), check with the lender for any “credit life” coverage.
These twelve things can help you find a hidden life insurance policy of your deceased loved one. Taking the time to investigate these items may yield a reward for you and your family.