Finding a lost or unknown life insurance policy is a common challenge, particularly after a family member passes away. Several resources and strategies can help locate policies that may have been forgotten, misplaced, or unknown to the beneficiaries.
Start with the most direct sources: search the deceased's financial records, including bank statements (look for premium payment withdrawals), tax returns (interest from cash value may appear on 1099s), mail (annual statements, premium notices), and personal files. Contact the deceased's financial advisor, attorney, employer (for group coverage), and any insurance agents they may have worked with.
The NAIC (National Association of Insurance Commissioners) operates the Life Insurance Policy Locator, a free service that searches participating carrier databases for policies associated with a deceased individual. Submit a request at the NAIC's website with the deceased's information (name, date of birth, Social Security number, date of death). Participating carriers will check their records and contact the beneficiary or requester if a policy is found.
State unclaimed property databases are another resource. If a life insurance death benefit was never claimed, the carrier may have turned the proceeds over to the state as unclaimed property. Check Tennessee's unclaimed property website (ClaimItTN.gov) and the unclaimed property databases of any other states where the deceased lived or worked.
Additional search strategies include checking the MIB database (which may indicate previous insurance applications), contacting the deceased's former employers for group coverage records, and searching for mail from insurance carriers in the deceased's email or physical mail. Persistence is key — policies can take time to locate through these various channels.