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In many such cases, finding the missing policy can mean the difference between bankruptcy and financial security. Grieving survivors are caught in a guessing game, because, unfortunately, there is no comprehensive national or state database that tracks the life insurance policy.
FreeAdvice.com the Insurance Information Institution (III) and to recommend steps to take and places to see.
If you know who underwrote the deceased's health, job or even a child life insurance, then you've got legs. Contact the company and ask.
If the insurer does not show the main term life insurance or whole life insurance policy (be sure to ask about the lesser-known hotels, such as variable life insurance or no-load life insurance), and then contact past and present financial advisors, investment bankers, insurance agents, lawyers, business partners or friends known to offer personal financial advice.
If none of this works, contact the former employees, credit unions, trade groups, or even a car / roadside assistance group.
Go through all the files, safe deposit boxes, storage units, attics, basements and secret corner you can think of. Scour old address books, bank statements and checkbook or old calendars that can offer advice.
If you have access to the deceased's previous life-insurance application or even current, well-known policy, that information will help you. Any policy should have known program in the appendix and will contain a list of other life insurance policies owned at the time of application.
If you still can not find the rules, do not give up. Missing Policy Service of the American Council of Life Insurance, 1001 Pennsylvania Avenue, NW, Washington, DC 20004-2599 will accept a written request to locate the policy. Include self-addressed business sized envelope. They will distribute your request to nearly 100 major life insurance companies in an effort to locate the lost policy.
If you still can not find the rules, do not give up. Missing Policy Service of the American Council of Life Insurance, 1001 Pennsylvania Avenue, NW, Washington, DC 20004-2599 will accept a written request to locate the policy. Include self-addressed business sized envelope. They will distribute your request to nearly 100 major life insurance companies in an effort to locate the lost policy.
...Another good access, free advice say experts, is to write a couple of the largest life insurance underwriters directly from the deceased's name, address and date of birth. If you're lucky, they'll have something. If you're semi-happy, one of the companies sleuthing May offer additional suggestions.
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