How to Find a Deceased Person's Life Insurance Policy

Billions of dollars in life insurance benefits go unclaimed every single year. Not because families do not need the money but because they simply did not know the policy existed.

If you are administering someone's estate right now this is one of the most important things to look for and one of the easiest to miss.

Start With the Obvious Places

Check the deceased person's important papers first. Fireproof boxes, filing cabinets, desk drawers, and home safes are the most common places people store policy documents. You are looking for anything from an insurance company with the words life insurance on it.

Also check their email inbox if you have access. Many policies are now managed online and statements or renewal notices may have been sent digitally. Look through bank statements too. A recurring small payment to an insurance company every month is often a premium payment and a clue that a policy exists.

Contact Former Employers

Group life insurance through an employer is one of the most commonly overlooked policies. If the deceased was employed at any point in their life it is worth contacting their former employers to ask whether a group life insurance benefit was in place and whether it is still active.

Unions, professional associations, and membership organizations like AARP also sometimes offer life insurance to members. Check any memberships the person held.

Use the National Policy Locator

If you have exhausted the obvious options the National Association of Insurance Commissioners has a free Life Insurance Policy Locator Service at naic.org. You submit a request online and participating insurance companies search their records to see if they have a policy under that person's name and Social Security number. It takes a few weeks but it is free and worth doing.

What to Do When You Find a Policy

Contact the insurance company directly and ask for their claims department. You will need a certified copy of the death certificate and the policy number if you have it. The company will send you a claim form to complete. Most claims are paid out within 30 to 60 days once all the paperwork is submitted.

Life insurance proceeds typically pass directly to the named beneficiary and do not go through probate. That means they are usually not subject to estate debts either.

Stay Organized Through the Process

Tracking down policies, filing claims, and following up with multiple companies at once is a lot to manage. The Document Organizer inside the Complete Estate Administration Suite at mynextstepsupport.com gives you a structured place to record everything you find so nothing slips through the cracks.

Visit mynextstepsupport.com to learn more.

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