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Old 07-24-2018, 06:11 PM
yerromnitsuj yerromnitsuj is offline
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Default Finding Insurance Policy After Death

Hi everyone, I知 over on the P&C side and I知 hoping someone here can help me out. Unfortunately, my 37 year old cousin unexpectedly passed away last week, leaving behind a wife and 3 kids. He was a doctor and had a large life insurance policy. We cannot, however, find his policy or any information on it, such as who the insurer is.

Are any of you aware of a database or some resource that can help us find information we need so his wife can begin the claim process? Thanks for any leads.
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Old 07-24-2018, 06:53 PM
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ElDucky ElDucky is offline
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Check the bank account for payments to the life insurer. Try to locate the agent.

There are websites in Canada that look for insurance, I assume the US would have them to, but it might be state specific.
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Old 07-24-2018, 06:55 PM
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Are they in one of these states?

•Alabama
•Delaware
•Illinois
•Kansas
•Louisiana
•Maine
•Michigan
•Missouri
•New Hampshire
•New York
•North Carolina
•Ohio
•Oklahoma
•Oregon
•Tennessee
•Texas
•Vermont
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Old 07-24-2018, 06:56 PM
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There's this.

https://eapps.naic.org/life-policy-locator/#/welcome
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Old 07-24-2018, 07:07 PM
nonactuarialactuary nonactuarialactuary is offline
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Sorry to hear about your loss. Did he use an online password manager? Maybe you could find the policy information that way by viewing his list of saved login credentials?

I don't work in the life space (and have never had a policy), but don't they typically require annual premium payments? At some point, will you get a bill in the mail (or email if you have access to it)?

Failing that, maybe just start calling the largest insurers and seeing if they wrote the policy? This link here suggests the top 20 companies have 65% of the US market, so if you start at the top of the list and work your way down, you hopefully won't have to make too many calls before finding the right company.
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Old 07-24-2018, 07:27 PM
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Quote:
Originally Posted by yerromnitsuj View Post
Hi everyone, I知 over on the P&C side and I知 hoping someone here can help me out. Unfortunately, my 37 year old cousin unexpectedly passed away last week, leaving behind a wife and 3 kids. He was a doctor and had a large life insurance policy. We cannot, however, find his policy or any information on it, such as who the insurer is.

Are any of you aware of a database or some resource that can help us find information we need so his wife can begin the claim process? Thanks for any leads.
If he was paying for premiums, check who the premiums were going to (provided you now have access to his accounts in his absence).

If he wasn't paying for premiums (paid-up policy, employer-sponsored, etc), then it's a little harder.

How did you know he had a life insurance policy?
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Old 07-24-2018, 08:33 PM
yerromnitsuj yerromnitsuj is offline
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Quote:
Originally Posted by wat? View Post
If he was paying for premiums, check who the premiums were going to (provided you now have access to his accounts in his absence).

If he wasn't paying for premiums (paid-up policy, employer-sponsored, etc), then it's a little harder.

How did you know he had a life insurance policy?
Thanks for the suggestions, everyone. I致e passed it on and hopefully we can get it all straightened out soon.

We know of the policy from his wife and parents. I知 not sure if it was employer sponsored or not but I致e passed the thoughts on to those who would know more than me.
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Old 07-25-2018, 02:00 PM
Steve Grondin Steve Grondin is offline
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Have the wife contact HR where he worked. She will probably need to do that for a bunch of other reasons anyway, so she should probably ask about any life insurance even if the policy they are thinking about was individual.
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Old 08-27-2018, 05:26 PM
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Did you ever get this sorted out?

I agree that any employer-sponsored plan info could be obtained through HR. If there was a particularly large policy, it was most likely individual insurance since most employer sponsored plans are between 1x - 2x annual salary and a young father simply needs more than that. He *may* have been "buying up" through his employer to get to a larger coverage amount, or he may have purchased an individual policy. Looking at his pay stub would probably reveal life insurance premiums paid through his employer.

You don't need any particular paper to file a claim on individual life insurance policies, but you do have to know the correct insurance company. They should be able to look up the policy info and tell you what it's worth.

Lastly, if you still haven't located the insurer, don't sweat it too much if his wife / kids aren't currently desperate for the money.

Insurers are required to check their list of insured members against the Social Security Death Index and make reasonable attempts to locate beneficiaries. My company does this quarterly, although I think companies can get away with annual checks. Eventually they'll come looking for his beneficiaries, so long as they have the correct Social Security number. It would help if there was some sort of obituary available online that they can use to locate the wife.

Also, if he died in an accident, there could be additional Accidental Death benefits available, particularly likely on an employer-sponsored plan. Employers like Accidental Death insurance because it's cheap but it makes people feel like they have more insurance than they really do (since deaths due to accident are much rarer than people perceive).
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