Tips for Finding out If You Are a Beneficiary of a Life Insurance Policy

If any of your parents, family members or spouse dies, there might be a possibility that they took out a life insurance policy while alive. There could also be another possibility that you are the sole beneficiary or one of the beneficiaries of that insurance plan. So how do you find out if you are a beneficiary of their insurance policy?

Search documents for clues

Often, policyholders do not tell their beneficiaries about any life insurance policies they might have taken out. Where this happens, it is essential that you search through your loved one’s documents for clues. A premium payment receipt or letters from the insurance company may give you an idea of whom to approach.

Make use of MIB Solutions search service

If you are unable to find out any documents that point to your loved one’s insurer, you can apply for a search service with the MIB solutions. Using  MIB Solutions Policy Locator Service, you can find out if you are a beneficiary of a claim.

Go to the Pension Benefit Guaranty Corporation’s (PBGC) website

Most times, private insurance companies transfer their pension plans to the PBGC when they are unable to find participants of the plan. Upon visiting this website, search for the participant’s name. You might just be able to find out if you are a beneficiary of his or her claim.

Talk to relatives

Relatives of your deceased loved ones may have clues as to if he or she took out a life insurance policy. Talking to them may increase your chance of finding out if you are a potential beneficiary of the deceased’s claim.