How To Locate A Life Insurance Policy: Free Life Insurance Policy Locator

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How To Locate A Life Insurance Policy: Free Life Insurance Policy Locator

7/7/2018

Category: Consumer Services

Locating a life insurance policy can be a nightmare especially after a loved one is deceased. It is not uncommon for family members to refuse or fail to disclose financial matters for various reasons prior to death. The problem is that once they have expired, it can be very difficult to locate an old or missing life insurance policy, to find out if one exists, or if the policy is still active.

This can present a multitude of problems for burial and settling other financial obligations if the family has a problem identifying the benefactor(s) of the estate or determining who has the legal rights and responsibility for allocating finances and honoring final wishes. As the loss of a loved one is always a frightening and debilitating experience that leaves survivor’s, many times, in states of grief and shock it is important to be prepared to reduce frustration and confusion especially in cases of an unexpected death.

On the subject of accidental or unintentional deaths, the five leading causes are:

traffic accidents
fatal falls and stumbles
fires
drownings
alcohol and drug poisonings

According to the National Center for Health Statistics (2017), mortality rates for unintentional injury deaths is 45.6 per 100,000 people. A total of 146, 571 people died accidental deaths in 2017. A total of 33,381 people had fatal falling accidents (about 10.4% per 100,000 population); 37,357 people had fatal car accidents (11.7%); and, 47,478 people died from accidental poisonings (14.8% per 100,000 population).

Another primary source for tracking U.S. mortality rates is the National Vital Statistics System administered by the Center for Disease Control and Prevention (CDC). Statistics show that there were nearly 3 million U.S. deaths in 2015 at a rate of 844 per 100,000 people. The data here also suggests that unexpected death rates are rising. That could include anything from homicides, drug overdoses, suicide, infant mortality, and other unexpected life events besides natural causes. Since death is a rather taboo subject that most people prefer to avoid, the point is to have a strategy in place for loved ones before a tragic event occurs.

Suicide ranks in the top ten (10) causes of death in Michigan along with heart disease and other chronic illnesses. See Michigan’s Health Report: Chronic Disease and Life Expectancy.

First Steps in locating a Life Insurance policy:

Search for insurance-related documents by examining personal files, a bank safety deposit or other storage boxes. Address books may also include an agent or insurance company's contact information who may be aware of an active policy.
Financial professionals or institutions (i.e. banks, investment firms, attorney’s, or credit unions) may have information on payments made out of an account for a life insurance policy.
Review any life insurance policy that you can find - it will have information on any other existing policies that may or may not be active.
Contact previous or current employers that will have information on any existing group insurance policies acquired through the company.
Check the mail for premium or dividend notices.
Check the deceased tax returns for interest income or interest expenses paid for a life insurance policy.
Check your state’s Unclaimed Property division. Insurance companies are now required by law to report unclaimed insurance benefits when a beneficiary cannot be located.
Visit your state’s Department of Insurance. Some states have online locator tools which you can use to search for a missing life insurance policy. A link is provided to the DIFS’ Life Insurance and Annuity Search Service (LIAS).

You can also pay a service to search for any existing life insurance policies through an Medical Information Bureau (MIB) database. However, there is a fee for each search and are usually unsuccessful. The Michigan Department of Insurance and Financial Services (DIFS) charges $180 for a policy search that will take up to ten (10) days. However, the DIFS website offers a free search tool but has up to ninety (90) days to respond.

The DIFS Free Locator tool can be used to search and locate life insurance policies or annuity contracts. If a financial instrument is found the Department of Insurance and Financial Services (DIFS) will only respond to the listed beneficiary.

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Related Posts:
Death, Burial, and Crime Victim Compensation
http://www.canmichigan.com/death-and-burial.html
Michigan’s Health Report: Chronic Disease and Life Expectancy
http://www.canmichigan.com/blog/michigans-health-report-chronic-disease-and-life-expectancy

Links:
National Center for Health Statistics
https://www.cdc.gov/nchs/fastats/accidental-injury.htm
National Vital Statistics System
https://www.cdc.gov/nchs/nvss/deaths.htm
What is the Medical Information Bureau (MIB)?
URL: https://lifeinsurancebyjeff.com/medical-information-bureau-life-insurance-approval/
MIB Policy Locator Service
URL: https://www.mib.com/pls.html
Tony Steuer Insurance Consumer Advocate
URL: https://tonysteuer.com/
National Association of Insurance Companies Life Insurance Policy Locator Service
https://eapps.naic.org/life-policy-locator/#/welcome
Model Unclaimed Life Insurance Benefits Act Adopted By NCOIL (National Conference of Insurance Legislators)
https://www.lexology.com/library/detail.aspx?g=b3618bee-b5f7-4700-86c9-9a37285b3529

15 Comments

Deborah Mitchell

2016 Wayne State University Alumni - Bachelors of Science in Social Work, social services professional and Registered Social Work Technician. Human service background since 2007 which includes medical case management and service navigation for the indigent population, outpatient mental health counseling for SUD disorders with comorbidities (experienced in medication-assisted and social model treatment modalities), supportive employment and job development for mental health consumers, and structured living domicile management.

It is my goal to maintain a recovery-focused, service-oriented environment while working to expand the capacities of individuals, families, groups, organizations, and communities in developing and restoring optimal social and economic functioning.

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Sarah Smith link

4/16/2021 05:50:16 pm

Thanks for explaining that traffic accidents and alcohol and drug poisonings are among the top 5 leading causes of unintentional deaths. My brother has been drinking more heavily after the divorce. I'll suggest that he get life insurance so that his children will be taken care of if he passes away suddenly.

4/29/2021 07:23:56 pm

Thank you for your comment. I'm glad that the information was helpful and I'm glad to hear that you are intervening to help your loved one. Best of wishes.

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6/27/2022 10:17:28 pm

thanks for the information, very inspiring

Deborah Mitchell link

6/27/2022 11:06:47 pm

Thank you so much!

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7/5/2022 09:32:20 am

Worth to read ! The datas are very informative, thanks for sharing Deborah!

7/14/2022 12:59:31 am

Thanks! Hope it helps.

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8/27/2022 02:07:44 am

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9/6/2022 12:38:05 pm

There are a lot of kinds of insurance policy offered on the market place today, but every one of all of them concern defending us, loved ones, or things coming from some sort of financial loss.

Nobody knows what the potential holds, as well as it is actually constantly necessary to have techniques to shield ourselves.

Insurance can shield us from the loss of job, wellness, house, car, or even lifestyle.

Insurance policy is actually an integral part of a monetary security.

I recognize there are actually the three main sorts of insurance coverage: wellness, life, as well as auto.

While obtaining insurance, folks commonly receive confused on whether select life insurance policy or even medical insurance.

I am actually also within this scenario can easily any individual help me??

9/22/2022 10:57:46 pm

Thanks for the great points. This should've been a blog post.

Mia Evans link

11/11/2022 06:02:14 am

It really helped when you said that it can be a problem when there are financial obligations that you might not know of once a person passes away. In that case, I should make sure that ever document would be accessible to the people I trust, especially when I get myself a life insurance policy. Doing so will give me the assurance that my family will benefit from the policy that I will leave them and to use that to pay for whatever funeral needs I would be getting.

11/16/2022 01:58:59 pm

Absolutely! It's important to organize and (as you said) make accessible, important documents to those we trust and who will carry out our wishes. So glad this helped. Blessings to you.

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3/17/2023 03:34:49 pm

Locating a life insurance policy after the death of a loved one can be a daunting task, but there are steps that can be taken to ease the process. Searching personal files, contacting financial institutions and reviewing tax returns are all recommended. State Departments of Insurance can also provide assistance in locating missing policies, and some offer online locator tools. It's important to be prepared before a tragic event occurs to reduce confusion and frustration for loved ones.

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5/9/2023 02:31:58 pm

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5/9/2023 03:19:32 pm

Thank you so much for sharing all this wonderful info with the how-to's!!!! It is so appreciated!!!” “You always have good humor in your posts/blogs. So much fun and easy to read! We are PCS Safety, Inc. specializes in the fields of Executive Recruitment & Staffing, Human Resources Development and Program Implementation, Workplace Safety Development and OSHA Compliance Programs.

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6/2/2023 08:34:37 am

Losing a loved one is already a difficult experience, and locating a life insurance policy after their death can add to the stress. The website www.canmichigan.com offers a free life insurance policy locator service to help with this challenging task. By finding and confirming the existence and status of a life insurance policy, families can alleviate financial burdens and ensure that final wishes are honored. Being prepared and proactive in such situations can make a significant difference in reducing frustration and confusion during an already trying time.

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