There are several things you can do to find out if someone left behind a life insurance policy when he or she died. To find an unclaimed life insurance policy, talk with friends and relatives, check personal records the deceased left behind and contact your state insurance commissioner’s office. Show
Fact Checked A qualified expert reviewed the content on this page to ensure it is factually accurate, meets current industry standards and helps readers achieve a better understanding of retirement topics. Cite Us APA Turner, T. (2022, July 28). How To Find Out If Someone Has Life Insurance. RetireGuide.com. Retrieved November 19, 2022, from https://www.retireguide.com/life-insurance/payout/policy-search/ MLA Turner, Terry. "How To Find Out If Someone Has Life Insurance." RetireGuide.com, 28 Jul 2022, https://www.retireguide.com/life-insurance/payout/policy-search/. Chicago Turner, Terry. "How To Find Out If Someone Has Life Insurance." RetireGuide.com. Last modified July 28, 2022. https://www.retireguide.com/life-insurance/payout/policy-search/. Key Takeaways
What Is an Unclaimed Life Insurance PolicyIf a person with a life insurance policy dies, but his or her beneficiaries are unaware of the coverage, it is an unclaimed life insurance policy. This is relatively common and can happen for several reasons. Reasons a Life Insurance Policy May Be Unclaimed
The amount of unclaimed life insurance benefits in the United States topped $1 billion dollars by 2013, according to Consumer Reports. At the time, the average payout was $2,000 and some were as much as $300,000. Consumer Reports estimates that the odds that you are a beneficiary of an unclaimed life insurance payout is about one in 600 — better than your chances of winning the Powerball lottery. How to Find a Life Insurance Policy When Someone DiesThere are several ways to find a life insurance policy when someone dies. These include internet tools and some detective work on your own. The National Association of Insurance Commissioners (NAIC) — a group that represents the chief insurance regulators of each of the 50 United States, the District of Columbia and U.S. Territories — has an online tool that can help track down unclaimed life insurance policies. Once you fill out an online form on the policy locator tool, the NAIC will ask participating insurance companies to scour their records to see if they have a life insurance policy in the name of the deceased person you listed on the form. The companies will also look for policies that name you as a beneficiary. The NAIC tool has been around since 2016. More than 145,000 people had used it as of July 31, 2020. In that time, the policy locator had found 46,665 matches with claims totaling $650,520,451. Life Insurance Policy Locator You can use the Life Insurance Policy Locator from the National Association of Insurance Commissioners to find life insurance policies and annuity contracts of deceased family members and close relatives. Source: National Association of Insurance Commissioners Other Ways to Find a Lost Life Insurance PolicyThe NAIC locator tool only works with participating life insurance companies. If it doesn’t turn up a match, you can still do some work on your own to track down a missing or lost life insurance policy. 14 Ways to Find a Lost or Unclaimed Life Insurance Policy
What If the Insurance Company Changed Names or Went out of Business?If the insurance company has changed its name, has gone out of business or has been bought out by another insurer, you may be able to do an internet search to find out what company currently has its assets and policies. Once you have the new name, find the state of the company’s home office and contact that state’s insurance commission or department. You can find a list of insurance company names and home office addresses in “A.M. Best’s Insurance Reports,” an annually updated report on companies. It is available in many larger libraries.
On Medicare? Maximize your 2023 savings! The Medicare Annual Enrollment period is now open. Visit GoHealth today to see what savings you may qualify for with a new plan. Obtaining a Death Certificate When Filing a Life Insurance ClaimTo claim a death benefit payout from a life insurance policy you will need two things: A copy of the life insurance policy and a copy of the policyholder’s death certificate. A death certificate is a legal document recording a person’s death. Obtaining a death certificate copy is likely easier and more straightforward than tracking down a lost or unclaimed life insurance policy. Where to Obtain a Death Certificate
Death certificates are public records in some, but not all states. In some states, you will need to provide proof of your relationship to the deceased. In those cases, generally only immediate family members, government agencies, the executor of the deceased’s estate and funeral directors can request an official copy. To request a copy, you’ll need to show a valid government-issued photo ID such as a driver’s license and proof of your relationship to the deceased such as a birth certificate or marriage license. The life insurance company will also have its own rules on how to submit the death certificate. This varies from company to company, so you should check with the company about its requirements before submitting the death certificate along with the policy. Last Modified: July 28, 2022 7 Cited Research Articles
How do I look up a deceased person's policy?You can find out if someone had a policy by using online search tools, contacting their financial or legal advisors, or checking the deceased's records. Life insurance policies are not usually public record, but they can be found on sites that aggregate records of unclaimed money in each state.
How do you find out if you are the beneficiary of a life insurance policy?Once you find a life insurance policy, you can see if you're a beneficiary by contacting the life insurance company directly. If it turns out you are a beneficiary, you'll need to submit a claim to receive any proceeds from the policy.
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How to find life insurance policies after someone dies
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