How To Find Out If Your Deceased Spouse Had A Life Insurance Policy?

Due to advances in technology and the doing away of conventional hard copy documents for the more sophisticated soft digital copies, it can be a daunting task locating insurance policies held by a dead spouse. But all is not lost, as there are means through which you can check and confirm whether the departed spouse held a life insurance policy.

The means chosen should cover both old and new methods of document storage, so as trace documents are stored in either hard copy or digital forms. Hardly, will a life transaction policy go ahead without the involvement of a bank. Therefore,, your bank becomes your first stop in your quest. Request copies of bank statements over the past few years and check whether there were payments to a life insurance company. If you do find, call the company and present your case.

The other option is a bit tedious as it is manual, and thus, will take some time. It will involve sifting through old copies of mails and bill and receipts to try and find if there is anything from a life insurance company. If you happen to find any, then you can call the concerned company and tell them of your situation.

Should any of the above methods fail, the Department of Financial Services in your state becomes an option. Here’s what you will be looking for, for any unclaimed property that may have been issued to you or your spouse by a company dealing with life insurance. This is a likely scenario as most of the time when we buy insurance;  we let the cash value accumulate and when the policy comes to an end, we never realize that the cash value is still our entitlement.

In such a case, when the company can not get hold of the policy holder to give them their cash value for years not less than 5, they hand over the policy to the state where it is filed, as unclaimed property and listed, as well. If you find you have such, you can get in contact with the concerned company and check if they may have other policies you may not know about. Please note that the Department of Financial Services may go by different names depending on the state, and some of the names may be Treasury Department, Office of State Treasurer, Department of Revenue, etc.

If everything fails despite the certainty that the spouse may have had a policy, then you may be forced to call leading agents and companies dealing with life policies to check of any records they may have of your spouse.