In most cases, beneficiaries know they ’ re beneficiaries because the policyholder tells them ahead of time. This is the ideal situation—a loved one who ’ s inactive alive lets you know you have been named their life sentence insurance beneficiary and where to find the policy if they die while the policy is in violence. If the sleep together one passes away, you know how to locate the policy and contact the insurance company to make a claim .
But, sometimes, policyholders forget to tell their beneficiaries about the policy or the details—where they keep the paperwork, how much the policy is deserving, and the identify and contact information for the indemnity caller. You may have an theme that there ’ s a life insurance policy and that you were meant to be a beneficiary, but you don ’ thyroxine know for sure. now, what ?
many life indemnity companies try to contact beneficiaries if the beneficiaries don ’ thyroxine contact them beginning. The “ catch ” is that there ’ s no automatic pistol action that tells them about policyholder deaths. normally, the manner the indemnity company finds out the policyholder has died, and that the policy needs to be paid, is from the beneficiaries or other syndicate members. many states require insurance companies to check the Social Security “ Master Death File ” for dead person policy holders and to try to notify their beneficiaries when they find a policyholder on that list. But that can take time. And it ’ s not the rule in every express .
so, don ’ t count on the company finding you. If you think your loved one might have had a life insurance policy, and you might be a beneficiary, there are things you can do to find out.
One suggestion is to ask other members of the family, if potential. person might know something you don ’ metric ton. Assuming you have the authority to look through your love one ’ s personal papers ( or can get permission ), look for the insurance policy itself. If you don ’ triiodothyronine find the policy, look for life sentence insurance receipts or evidence of payments in a checkbook register. Remember to check digital storage—computers and mobile phones—as well. If you think your loved one may have been covered at oeuvre, contact that person ’ s former employer or labor coupling. If any of these searches turn up the name of the indemnity company, that can sometimes be enough to start the claim march. ( Having a company diagnose and a policy phone number is even better. )
Let ’ s say you try those steps and come up empty. Don ’ triiodothyronine give up—there are hush ways to track down a life policy policy. You might want to contact the National Association of Insurance Commissioners ( NAIC ) for their spare Life Insurance Policy Locator Service, which looks for policies on the databases of many insurance companies. Another capital resource could be your state of matter ’ mho Department of Insurance ( DOI ). Some states have DOI websites where you can put in information about the die and find out if they had policy policies .
One last think. If you have a biography insurance policy of your own, make certain your love ones know about it. That will help make it easier for them to get the money you want them to have .