Life Insurance Facts

How can you find out if you are the beneficiary on a policy? This question is popular among people who have lost their deceased. Although life insurance is usually taken to protect families against loss of income some policyholders fail to inform the benefactors of these benefits of the policy’s existence.
It is estimated that there is over $1 billion of unclaimed life insurance proceeds from North American insurance companies.
Every year insurance companies forward unclaimed life insurance proceeds to state governments after it remains unclaimed for 3 years in some states but this period varies from state to state.

There is no easy way to find out this information but doing the following steps could assist you in finding out the life insurance policies of deceased:

• Check mail for any premium payment notices.

• Check Bank statements and check stubs for proof of premium payment.

• Check with their bank for bank accounts and safety deposit box.

• Check old credit card statements for premium payment evidence.

• Ask relatives, friends or family members.

• Ask his lawyer and accountant.

• Check and ask his insurance agent or broker.

• Check the Courts records for any probate documents.

• Contact employer for proof of salary deduction or group life insurance.

• Check with your state for their Unclaimed Property Department or website in case the unclaimed life insurance benefits have been forwarded by the insurance company.

• Call the claims department of any insurance company you suspect may have been the insurer and ask them.

• Visit the  National Association of Unclaimed Property Administrators website  MissingMoney.com and conduct a free online national search.

• You can engage at a fee a private firm to get you this information.

To make any formal application for any information you will require to provide a death certificate and a notarized application.

Take note of the following:
You could find out that there could be a policy but one that expired before the death of the policyholder. This would render it null and void.
Another scenario is one where failure to pay the premiums caused the policy to lapse and at time of death the policy was not in force.

The above instructions should be helpful in tracing any Finding Life Insurance Policies of A Deceased anywhere in the USA.