#FFFFFF #FFFFFF “Family members bought life insurance with the idea of looking after their loved ones,” says Colorado Insurance Commissioner Michael Conway. “If the policy or the annuity goes missing, that plan goes unfulfilled. If you know, or even suspect, that there’s a policy out there that was your parent’s, grandparent’s, or someone else close to the family, I encourage you to log in and submit a request.” #FFFFFF Life Insurance Policy Locator - from the National Association of Insurance Commissioners (NAIC)Life Insurance Policy Locator Consumer requests are encrypted and secured to maintain confidentiality. Participating insurers compare submitted requests with available policyholder information. If there is a match, companies contact beneficiaries or their authorized representatives. Insurance companies have 90 days to research inquiries. The Life Insurance Policy Locator is a tool that was developed by the National Association of Insurance Commissioners (NAIC) after regulators across the country recognized that lost policies were a growing problem. In the Locator’s first year (Nov. 2016 - Oct. 2017), it matched beneficiaries with lost or misplaced life insurance policies or annuities leading to $92.5 million returned to people across the U.S., with $5,676,199 for Colorado beneficiaries. It has since returned millions more to consumers. Resources
Lost policies and annuities are a surprisingly common problem. Many of us have lost a loved one and have a vague memory of a life insurance policy being mentioned. Or as we help to sift through our parents’ or grandparents’ papers we come across a listing of a policy or an annuity. The Illinois Department of Insurance can assist consumers in locating and identifying individual life insurance policies or annuity contracts of a deceased family member. When a request is received, the Department of Insurance will:
How to use this site When a loved one passes away, locating a life insurance policy can be a challenging but necessary task. There are some steps you can take to get the information you need. Here are a few tips to guide your search. Search the deceased's documents and correspondence.In many cases, evidence of policy and any relevant information
If this search turns up empty, there are still actions you can take. Submit a request to the NAIC Life Insurance Policy Locator Service.The National Association of Insurance Commissioners (NAIC) Life Insurance Policy Locator Service, a free online tool, can assist you in locating life insurance policies. Once a request is received, the NAIC will ask participating companies to search their records to determine whether they have a life insurance policy in the name of the deceased you entered. If they do, the participating company will respond to you if you are the designated beneficiary or are authorized to receive the information. Click here to use the service. You will need information from the death certificate, including social security number, legal first and last name, date of birth, and date of death. This video provides instructions on how to use the service. Contact the state’s Unclaimed Property Office.When a life insurance company is aware that an insured client has died but cannot find the beneficiary, the company must turn the death benefit over to the state where the policy was purchased as “unclaimed property.” If you know (or can guess) the state where the policy was bought, you can search the state’s unclaimed property database. The National Association of Unclaimed Property Administrators has a search tool that will take you to your state’s unclaimed property database. Be aware of special challenges.There may be circumstances that complicate the search for a loved one’s life insurance policy:
Keep in mind fee-based services are available if needed.Sometimes, even despite all the best efforts, finding an insurance policy when a loved one has passed away can seem overwhelming. In these cases, it is helpful to know that MIB, an insurance membership corporation, offers services for a fee. This service may be able to find evidence of life insurance applications but does not indicate whether a life insurance policy was purchased. Additionally, several private companies can assist you with the search for a lost life insurance policy for a fee. How do you find out if you have a life insurance policy?Your first stop should be the National Association of Insurance Commissioners' life insurance policy locator. With a minimum of information on you and the deceased, the NAIC will perform a free search of insurers to find out if there are any active policies.
How do you find out who the beneficiary of a life insurance policy is?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.
How do I find the cash value of my life insurance policy?4 ways you can find out the cash value of the policy. Call your insurance company or agent. ... . Log in to your insurance company's web portal. ... . Use the insurance company's online contact form. ... . Download your insurance company's mobile application.. How do I find out if a deceased person had life insurance UK?If you are trying to trace a life insurance policy, but do not know the name of the company, you should contact the Unclaimed Assets Register on 0844 481 81 80. You may also wish to check the person's bank/credit card statements (direct debit/standing order payments can be used by them to identify the insurer).
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Life insurance policy locator from the national association of insurance commissioners
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