After losing a beloved one from daily life, it becomes a crucial task to find out the financial investment paper and other insurance coverage of the dead person. However, the family member or the close one should find out the insurance investment, otherwise, it will remain as an unclaimed insurance policy.
Find Out if Someone has Taken Out Life Insurance Policy
The first step is to search for the financial records by gathering vital documents like death certificate, copy of the will, the existing assets etc. The documents will be submitted to the court and the rest of verification will be conducted by the court staffs only.
Secondly, try to remember whether the loved one has ever shared the financial asset details or not. If so, then search those places, where the dead person has kept all the documents. Put severe attention to the insurance papers like life insurance, home insurance, car insurance, medical insurance, etc. The relatives should also check whether any bill payment is pending or not. In case there is a pending payment, put application to the lenders regarding the death and appeal for a settlement. In addition to that the present member should look for the receipts against the payments made by the beloved one. Try to focus more on the bill, bank statement, cancelled checks and other financial transaction record. Do not forget to check the credit card statement, as it enhances the liability and lump sum late penalty charges.
Other method to find out the life insurance policy
In case the family member fails to retrieve the insurance papers from the home, an online tool can be used to identify the investment papers. First of all, the member should carry the permanent account number of the dead person and visit the state insurance departments to check how much insurance coverage is linked to the account. While applying for the papers, a form needs to be collected and filled up by the family members as well. The full name, address, date of birth, identity details and ID number of the existing policies are to be filled up. Also remember that some states have a provision of claiming notarized forms. Thus, try to check the requirement of the state and read the papers accordingly.
Still confused? Need more information?
After visiting the state insurance office if there is any doubt for the paperwork and the claim process, the family member can visit free websites, to know the process of retrieving missing money from the insurance firms. The member can also visit the website for the unclaimed property and insurances. From there, a detailed description of the policy holder’s financial status can be retrieved.
In case any problem arises, the members can directly visit the major insurance providers and show the address details along with the permanent account number to identify any policy exists in that company or not. Remember that the risk manager and the company lawyer will ask for the death certificate. Thus, always carry the proof of death to investigate any financial records.