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Lost Life Insurance Policy

Written by Aaron Pinkston, Fri, Oct 23 2009

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If you recently lost someone who you suspect may have had a life insurance policy or you have lost your own life policy, here are some tips to help you retrieve the information you need.

  1. Simple is the best approach. To make a claim, the only information beneficiaries need about the policy is the name of the company and the policy number. In some cases, if you just know the company, customer service representatives can search using a name and date of birth or social security number. You do not need to find the policy to make a claim.

  2. Privacy is increasingly important these days. Insurance companies are usually only able to speak with the policy owner. If you are the policy owner, getting a duplicate policy should be a snap. If you are calling to file a claim, the claims specialists may operate under the assumption that the insured is still alive to help protect privacy. Once they have confirmed the policyholder is no longer alive, you should find they are able to talk more openly.

  3. Dig through old records, files, and address books. If your parents are like mine, they keep files of records from your school days. Chances are there may be some life insurance information in there too. Phone books and address files may contain the name of past insurance agents or other advisors. Any checks sent to the insurance company should have the name of the company and the policy number on them. This makes banking records and check stubs rich with potential information. Also, keep an eye on the mail for at least a year to see if policy statements or premium notices show up.

  4. Ask employers, trade associations, accountants, lawyers, insurance agents, or even close friends. Many lawyers, insurance agents, and accountants keep records of all their customers’ financial dealings. Some will or trust documents mention specific insurance policies. Remember to keep this step simple – you only need the company name and policy number.

  5. SearchMedical Information Bureau tracks application records for a fee. This does not mean that each application resulted in a new policy, but it’s better than nothing.

  6. Try, try again if the specific life insurance company is no longer around or sold the policy to another company, the National Association of Insurance Commissioners and the policy owner’s state department of insurance can help you find the new company who now holds that obligation.

If you buy a policy using the services of Clarifinancial, keep those who you are close to your heart close to your mind as well. The best way to make sure they have easy access to your information in a time of need is to write it down and share it with them for safe keeping. They will appreciate that you have thought about them, even when you’re not around.