Life insurers understand the frustrations people feel when they believe a life insurance policy exists but do not have a record of it.
Below are resources and tips to help you search for a missing policy.
Even if a missing policy contract is not recovered, it does not necessarily mean that a person who believes they are entitled to benefits will lose out on receiving them. That is because life insurers are going above and beyond the requirements of state laws to link people with their benefits.
Many companies are checking their records against the death records at the Social Security Administration. If they find a policyholder who has passed away had an in-force policy and no claim has been made, they will attempt to locate the policy beneficiary.
If you suspect your loved one had a policy, but cannot locate it, you may want to conduct your own search using the steps provided below, including the free NAIC Life Insurance Policy Locator Service.
As an alternative, MIB, an insurance membership corporation, offers a policy locator service for a fee. For more information about this service, visit MIB's website: www.policylocator.com.
Check your loved one’s paper and electronic records to look for life insurance policies and the names of insurance agents. Contact every insurance company with which they may have had a policy, even if you’re not sure the policy is still in force.
If you are the owner or beneficiary of a life insurance policy written long ago, you may need help locating the life insurer that services and pays claims on the policy.
Over the years, a policy owner may lose touch with the life insurer due to frequent moves, or the company that issued the policy may have changed its name or merged with another company.
Two sources of information can assist you in finding the life insurance company that currently services your policy:
NAIC Life Insurance Policy Locator Service. The National Association of Insurance Commissioners (NAIC) has developed a free National Life Insurance Policy Locator Service to help you search for a life insurance policy or annuity contract of a deceased family member.
In addition to the NAIC Service, the following state insurance departments also provide a free missing policy search service: Illinois, Louisiana, Michigan, New York, North Carolina and Oregon.
State insurance department directory. The State Insurance Department Directory, with contact information for 50 states, the District of Columbia, Guam, and the U.S. Virgin Islands. Includes names and phone numbers for key personnel and specific subject contacts.