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How To Find Your Lost Life Insurance Policy!

By Jason Markum

Imagine you’ve been responsible all your life. You bought life insurance like you were supposed to and you paid your premiums every single quarter or year so that when you died, your family would be protected and have the money that they needed to go on living the same lifestyle they had grown accustomed to while you are alive to provide for them.

But how do they know that? Sure, you may have mentioned the life insurance policy once years ago… but people forget, and paperwork gets lost, and people tend to be a little more sloppy than they should when it comes to wills, and life insurance policies, and things of this nature.

The fact of the matter is that your beneficiaries may not know that they are entitled to collect your life insurance policy! And many times the life insurance company is not going to go out of their way to tell them!

So what do you do if you think you may be the beneficiary of a life insurance policy? Well the first thing you’re gonna want to do is search in the obvious places. Look through boxes of old tax records. And look through boxes of old financial records. And also if you have a file or box with insurance papers, obviously start looking there first!

Next extend your search out of the home. The best place to start is your family safe deposit box if you have one. If not I suggest talking with your family lawyer if you have one. Maybe they know something about the life insurance policy. If your family has an insurance agent locally that you worked with for years, contact them.

Several tricky places to look are old mortgage applications that you may have because sometimes these things require that you list any life insurance policies that you may have. Also check with the funeral home that your spouse used. Sometimes they have information on life-insurance because they need it to pay the funeral bills.

You might also check through old bank statements as far back as possible for any checks that were written to an insurance company. Many people keep old bank statements on file and in storage, but if you don’t… check with the bank itself. Many times banks will allow you to order old bank statements for a nominal fee, anywhere from $1-$5 per statement. Keep in mind you may have to go back 20 or 30 years or more, making this a very tedious approach but one that often yields results.

If all else fails and you have failed to discover a life insurance policy then contact the American Council of life insurance located in Washington DC. This is a trade group that will forward your inquiry to over 100 life insurance member companies.

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