Trying to find out if a deceased person had a life insurance policy can be extremely difficult at the time of death. Emotions will be running high among family members and close friends. But it is an important time to find policies that can pay for many immediate costs of death. Remember that many life insurance policies can take weeks before they are approved for payment. There are final expense policies that focus on immediate needs that include transportation of the body, funeral costs and even everyday bills. Those policies can be paid in as little as 72 hours.
Examine where the person has stored important documents in the home. There could be file boxes in closets or the attic. Check with a family member or close friends who can provide clues. Important documents are also kept with attorneys, banks, financial advisers or business associates.
Contact prior attorneys, accountants, financial advisers or business associates who may have done business with the person in the past. It is impossible these people have information or can link you to someone who knows about life insurance policies taken out.
Locate the person's auto or home insurance agents. They may have provided a life insurance policy as well. Contact the deceased's employer or past employer to see if the person may benefit from a group life insurance policy.
Get in touch with the Medical Information Bureau for lost life insurance. The person may be listed in a database that insurance companies use for information on people. Those companies can be contacted to see if any life insurance policies are in full force. It costs about £5 for record searches.
Find more than one life insurance policy by reading the application for another policy. The applications may list other life insurance policies the person owned.
Check the mail. The person will continue to receive information on the life insurance policies for premium or dividend notices. Companies may still send out regular status reports on insurance policies for a year or more.
Find out if there had been any interest income or expenses paid on life insurance policies by examining the deceased's income tax returns.
Get information from the National Association of Insurance Commissioners (NAIC). The association has a life insurance company location system that can find state insurance personnel to help identify companies that have written policies for the deceased.
Tips and warnings
- Get information from the National Association of Insurance Commissioners (NAIC). The association has a life insurance company location system that can find state insurance personnel to help identify companies that have written policies for the deceased.
Things you need
- Personal documents
- Banking or credit card statements
- Income tax returns