Anonymous
Anonymous asked in Business & FinanceInsurance · 1 decade ago

life insurance policy?

when a person dies and they took out a life insurance policy for you and someone lost the policy how can you find out what company the policy came from i do not know what else to do help me.

Update:

the person that died got the policy for his exwife.

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  • 1 decade ago
    Best Answer

    Unfortunately there is no easy solution to your case. The only central database that would enable you to find out who he/she applied for coverage with--MIB (Medical Information Bureau) keeps track of all applications for life insurance policies including name of company and amount applied for--170 million records in total going back 13 years. If you are an executor, or administrator (in cases where there have been no probate proceedings, a surviving spouse or other relative eligible for appointment may be entitled to order the report), MIB's Policy Locator can make it easy to discover life insurance benefits you may not have realized existed. You can access the MIB records at http://www.mibsolutions.com/lost-life-insurance/.

    If that doesn't work as far as I know if you are the Executor of the Estate you can access bank records to see who he/she paid. The other alternative is that he/she might have had a safety deposit box at the bank that you might not be aware of. If you are the Executor you should be able to 1) find out if he/she had a box and 2) if he/she did the bank will let you open it. 

I can also suggest that you check with the HR Department at his job since he/she might have made you a beneficiary on his/her life policy at work. If not also check with his/her auto and homeowners agent--he or she might be the same person who wrote the life insurance or might have referred him/her to the person. Also if he/she had an accountant or the family attorney try checking with them since he/she might have given them the information while writing his/her will or checking tax implications of the life policy. Also the attorney might be able to come up with another way to check assets. Did your loved one fill out a Net Worth Statement for anything recently--the information would be listed there.

If there are no other options, you are left with calling companies individually. However, be forewarned the last information I had was that there are over 1800 life insurance companies in the U.S. alone and over a 15 year period many of them might have changed names as a result of mergers, etc. If you have to go this route, first go to the insurance commissioner for your state and have them give you a list of the companies licensed in your state, i.e. not all companies are licensed in every state then with the list first think of the top names of insurance companies on the list--the companies that have the most name recognition and start by calling them, i.e. New York Life, Metropolitan Life, Mutual of Omaha, Sun Life, TransAmerica Life, AIG, Prudential, Northwestern Mutual, Pacific Life, etc. 

In short this is a daunting task, my bet is that he/she had a safety deposit box or was covered at work.

    I am very sorry for your loss. Good luck!

    Source(s): Certified Insurance Counselor, Licensed Insurance Agent & Broker for over 29 years.
  • 1 decade ago

    Well, likely the ex wife has it.

    If you are the EXECUTOR of the estate, you can get the bank to give you his cancelled checks, to see if he was paying the policy. If he wasn't paying for it, either the policy wasn't his, or it was cancelled.

    If you're asking, is there a central database where someone can look it up, the answer is no. Policy information is private, protected by privacy laws, and state or federal agencies don't get that information. Unless a claim is made, the insurance company doesn't know the deceased is dead.

    The closest there is, is MIB, where you, IF YOU ARE THE EXECUTOR, can pay $75 and get a list of all companies that received APPLICATIONS on that life, for the past ten years. It only goes back ten years, and it's only applications received. But then you can contact each one, and ask if there's a policy.

    It's easier to sort through banking records and personal papers.

    But since 70% of Americans die without active life insurance in place, odds are, if you can't find a policy it's because it doesn't exist.

  • 3 years ago

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    RE :Life insurance policy?

    when a person dies and they took out a life insurance policy for you and someone lost the policy how can you find out what company the policy came from i do not know what else to do help me.

    Update: the person that died got the policy for his exwife.

    Follow 5 answers

  • 1 decade ago

    I'm certainly not an expert, but if it were me, I'd begin by calling a local insurance agent and asking them. If they can't help, then I would begin calling possible companies and tell them your situation. Don't know if they could help either, but it would be worth some phone calls. The only other thing I would know to do would be to call the funeral home who handled the burial. I don't know if they have "ins" with insurance companies or not, but they could. Again, worth a phone call. Hope it works out for you!

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  • 1 decade ago

    THE PERSON ON WHOSE NAME THE LIFE INSURANCE POLICY MAY HAVE BEEN TAKEN CAN LEGALLY GO THE COMPANY AND ASK FOR THE DUPLICATE POLICY DOCUMENT. ALTHOUGH, YOU SHOULD BE KNOWING THE NAME OF THE COMPANY THRU WHICH THE POLICY WAS PURCHASED. IF YOU HAVE ANY DOCUMENT RELATED TO YOUR POLICY DOC, YOU CAN EASILY CLAIM THE POLICY DOCUMENT AND OD THE NEEDFUL

  • 4 years ago

    trying find southwestern general life insurence dallas texas cannot find thiscompany

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