What do you do if a loved one has passed away with their life insurance policy missing and no details to be found?
Life insurance is generally regarded as a morbid, albeit necessary life step. It can be difficult to think about death, but death is as much a part of life as birth, and so your assets and finances must be sorted out before its too late. But what if it gets even worse, and a loved one has passed away with their life insurance policy missing with no details to be found?
Unfortunately, if you’ve lost a life insurance policy, you’re going to have to revisit the morbid topic that preceded the policy. Fortunately, there are plenty of services available to you that can solve this problem. When applicable, it is generally best to start with a state-based insurance policy locator service. A policy locator service would probably be the easiest option on your end, but of course that will cost some money, and it is currently only available in a few states. In other states, regulations make the process either too complicated or impossible. You could and should do a paperwork search as well.
If you’re not in one of the states with policy locator services available, you can do a few things. First, you can find a financial adviser, as they are often licensed life insurance agents and may be able to help you. Otherwise, you can take one of many available actions to recover the missing policy. You can contact life insurance agents directly, and you can also contact your deceased relative’s former employer(s), who may have provided life insurance through their workplace. Other places where it would be wise to check include the MIB group, unclaimed property programs near you, and the bank of the deceased.
While you are still searching for the missing life insurance policy, there are a few passive methods you should take to help find it sooner. Make sure you stay on top of your mail, as you never know what may show up and when. You can clean out your own home thoroughly, and will presumably have some part in checking the deceased’s home, where you may be able to find a clue.