6 Steps On How To Find Out If Someone Has Life Insurance

6 Steps On How To Find Out If Someone Has Life Insurance

Passing of a loved one is very hard to come to terms with and deal with. That also comes with many expenses along the way. The road to overcoming grief is easier if there is a coverage that can aid you to get through all the expenses. However, many families are not aware that their deceased loved one has a policy. If you want to find out, it is good to know that there are ways to search for insurance coverage. You need a little detective skill to uncover this information.

The World Wide Web is your most important tool as you try to uncover possible life insurance. It is through an online search that you can find out about a forgotten coverage that might save your future.

6 Effective Ways to Find out if Someone has Life Insurance 

Your quest in finding out life insurance is not easy and you need to know exactly where to begin. Thankfully, there are things that you can consider to find out the truth.

1. Ask Information from Family and Close Friends

The very first source of good information is your family member. There is a higher possibility that at least one family member is aware that the deceased had acquired life insurance. Another great source of information is close friends.

2. Ask their Employer

You can also ask his or her employer as there is a chance that the deceased may have a group life insurance plan through the company. However, coverage from this type of insurance is not that high, but it can still cover some expenses.

3. Ask some Insurers

You can look for a car or homeowner policy. If you find one, then there is a good chance that he or she may also acquire coverage with the same insurer. Always check the email; it is important to read some mails from an insurance company. It is also possible that the insurer is not aware that the policyholder already passed away.

4. Check Bank Statements

One of the most useful documents is a bank statement because payments from insurance will surely reflect in the bank documents. You may also check with the income tax return as deductions may appear in the documents.

5. Opt for an Online Locator

If in case you did not find any valuable information from the above sources, then you can go to different online databases to search for possible policy coverage. The following are some options for you:

You can check with NAIC or the National Association of Insurance Commissioners
You may also go to unclaimed.org
Or you can check it from missingmoney.com

6. Go for the Service of Private Search Company

This is the last resort as you also need to spend cash to get their service. In the event that the deceased seems to have acquired life insurance, then you can spend a little in order to have the information in which one will need it. A person might choose the following:

You can hire the service of MIB.
You can ask for the VitalCheck service.
Or go hire someone from Policy Inspector.

You need to be very careful when choosing the right provider as there are lots of scammers that that will steal your money from you. If in case you cannot find any information, then the deceased may not have any policy at all. There is no harm in trying to look for life insurance information because a little money that you can get will go a long way.

Receiving Your Benefits From a Found Policy

Once you have found a policy you might have further questions on getting the proceeds. Try our guide on how to obtain your life insurance benefits? Most FAQ’s answered.