Purchasing a life insurance policy is the best decision a parent can make when creating financial protection for the family. Unfortunately, life insurance policy is a topic that most families or persons find difficult to talk about. A lot of time, the topic ends up overlooked or avoided by many.
However, if you have already purchased a life insurance policy, then ensure that you make out time to talk about it with your family. Here is how to find the life insurance policy of a deceased parent for families who have ideas.
If you are yet to purchase a life insurance policy, then it is necessary that you carry out more findings and also learn how the system works and ways by which you and your family can benefit from it. If you are not sure that someone you know or your parent has a life insurance policy, then there are ways that you can follow to help you find out. These steps include contacting the insurance commissioner’s office, searching online, and checking the personal belongings of a deceased parent.
There are ways to find out the importance of a life insurance policy, and other ways include speaking to acquaintances, family members, and friends. Besides talking about this topic with your close family members, you can also discuss them with friends.
This is because people often find it more comfortable discussing death topics with people they are not really close with. This sometimes causes your loved ones to trust having such a discussion with social groups, doctors, spiritual leaders, and so on.
How To Find Life Insurance Policy Of Deceased Parent
Check Personal Belongings
If your deceased parent has a life insurance policy, then you might be lucky to find proof of it among their personal belongings. It might be difficult to get access to safe boxes because the requirements vary from state to state. In order cases, you would need to have the key to the box to access the box, and you would also need to prove your relationship with the deceased. This might include executor statements, marriage certificates, and in some cases, a photo ID.
If the key isn’t in your possession, you would be charged an extra fee for breaking the box. Once the box gets opened, the insurance company would immediately hand the money left by the deceased person to the beneficiary that he has named in his life insurance policy. If you do not find anything like a life insurance policy in the box, certain items in the box might offer a clue, and such items includes;
Cards of insurance agents, financial advisors, attorneys, and accountants
Planners and address book of important contacts
Canceled checks and bank statements
Online Search
Some websites provide users with a free search tool for checking if their loved one has a life insurance policy. All that is required of you is to type in their name and click on search. Some of such search tool includes;
Missingmoney.com
National Association Of Insurance Commissioners
National Association Of Unclaimed Property Administrators
Check Old Mails And Bills
One thing about life insurance policies is that the insurance company would keep sending updates to a policyholder either by mail or by E-mail, so you can go ahead and search any of these if you want to confirm if your deceased parent has life insurance policy. In some cases, checking credit cards and other financial statements can also help determine if your deceased parent has a life insurance policy.
Contact Member Organization And Employers
Suppose your loved one was a member of any social organization that you can also search within there too. You can also go ahead and check with past and present employers if anyone would have valuable information regarding your loved one having a life insurance policy.
Calling The Office Of The State Insurance Commissioner
If, after going through all the steps that we have discussed and yet to find out if your loved one has a life insurance policy, then the next option you have is to call the insurance commissioner of your state.
The insurance commissioner’s office would carry out a proper search for you, and if something is found, you would be contacted. However, if the person asking for the search isn’t authorized, the insurance commissioner’s office would not contact if anything is found.
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