Finding Unclaimed Life Insurance Policies

After a loved one dies and the burial arrangements have been made, attention turns to settling the estate. This process can be long, complicated, and expensive. If the deceased had a life insurance policy, the pay-out will provide much-needed financial assistance to the surviving loved ones.

Unfortunately, many family members do not discuss life insurance and other personal matters, often because it is a morbid topic. This results in the family being unaware of a life insurance policy and the fact that they are named beneficiaries. It’s always a good idea to search for evidence of life insurance after a death, even though this task can seem time-consuming. However, the pay-out often makes it worthwhile as it alleviates the financial burden, allowing your family to grieve in peace.

Here are some tips on how to find a lost life insurance policy:

  • Visit Missing Money where they search for a variety of unclaimed assets
  • Check the deceased’s papers for contracts, business cards of life insurance agents, or canceled checks or accounts statements
  • Contact their employer to inquire if they had life insurance coverage as an employee benefit
  • Check the mail to see if you received any documents from investment or life insurance companies
  • Check old bank account records for payments to life insurance companies
  • Go through their email account for messages to or from insurance agents

If you do find a life insurance policy or signs of one, be sure to call the agent and discuss the next steps. If you are a beneficiary listed on the policy, you can expect to receive benefits shortly.

Take the time now to talk to your loved ones about life insurance. If you are considering coverage, keep your family in the loop with who are the named beneficiaries and where you will store these important documents. Review your coverage annually to ensure that your family will  be well taken care of when you are no longer around.

The team at Kneller Agency is here to help with all of your life insurance needs. Contact us today! We serve Chatham, Copake, Valatie, Tilden Place, and neighboring cities of New York.

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