Individuals sometimes buy a life insurance policy without informing the person they name as their beneficiary. As a result of this, after their death, the beneficiary cannot claim the insurance money because they are unaware it exists. If you believe that you could be the receiver of insurance benefits, there are ways to make sure and claim the money.
Here we will explain the ways you can track unclaimed life insurance money.
- Check for evidence of the insurance policy. Evidence could be the life insurance contract, proof of premium payments or mails from the insurance company.
- Examine the deceased’s old bank statements for any payments made to a life insurance provider.
- Contact the financial adviser of your dead loved one. With proof of your identity, the financial adviser can tell you if your relative had a life insurance policy. They could also inform you if you are the beneficiary.
- Contact the former employer of your dead loved one. The former employer can tell you if the deceased had a group life insurance policy.
- Get in touch with your state’s Unclaimed Property Office and state insurance departments.
- Review old tax returns. Tax return statements usually include information regarding insurance.
- Contact the Insurance provider if you can find evidence of a life insurance policy.
- Pay for a private search service. You could pay professionals to help you track unclaimed life insurance money.