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What if I can't Find the Life Insurance Policy?

By Compuquotes Team on March 27th, 2008

When your loved one passes away, there is a whole mountain of things that you have to take care of from the will to the funeral. Most of these cost money, and that is where life insurance is such a boon to the family members and loved ones of the deceased. Life insurance can cover everything from funeral costs to death taxes just after the death, and can be used by the family to start over when there is money left over after the necessities have been taken care of. Sometimes, though, just knowing that a policy exists is not enough.

In some cases, the life insurance policy is not where it was supposed to be. Perhaps it was taken out of the files for a quick look-over and misplaced at some point, but the fact is that you cannot find the policy itself. This does not have to be a huge hindrance, however, if you have additional information. In the best case, you will know the name of the insurance company. From there it is easy to get in contact with agents who will verify that a policy existed and help you get the funds that you need. If you do not know the name of the company, however, there are still ways to find out and collect.

Look for cancelled checks
Cancelled checks with the name of the insurance company will tell you which company to look for to collect on the insurance policy. Otherwise, look for automatic withdrawals from the checking account of the deceased or bills coming in from an insurance company looking for their regular payment. You can get in contact with them by calling the number on the bill or by looking up the number of the company. They will be able to confirm that the policy exists, and you can collect that way.

Find out who insured the car or house
While many insurance companies specialize, many are willing to insure multiple aspects of your life. If you cannot find a hint of the insurance policy, then try calling other insurance companies and asking about additional policies. You may get lucky and find that your loved one had multiple policies through one company, and you can collect the money that you are owed. If this does not work, consider cold calling some of the bigger companies in the area to see if your loved one had a policy with any of these.

If all else fails
A private detective may not seem like an obvious choice to help you, but there are detectives in the world who specialize in finding lost documents like your life insurance policy. When calling around, ask if they specialize in anything in particular, and what steps they would take to find your document. If the steps are ones that you have already taken, you may want to tell your detective and ask if he has any additional sources.

With luck, one of these methods will pay off for you and you will be able to collect on the insurance policy and get on with mourning your loved one.

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