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Question for the Money Doctors

Question submitted on Feb 27, 2014.

Question

I am trying to find out if my husband had life insurance through Hartford, Liberty Mutual or any other insurance company. How do I go about find out?

Answer

Unfortunately there is no easy way to do this if you are not sure there was life insurance on your husband, However, the following steps could help uncover any policies that exist:

Contact the HR group at his employer to find out if any insurance was purchased through the company.

Review past bank statements (including cancelled checks) and credit card charges for any payments made to life insurance companies.

Check any safe deposit boxes for policies.

Review prior tax returns - sometimes certain types of policies pay interest that would show up on a tax return.

Check with any financial advisors, CPAs, insurance agents, etc. that may have advised on the purchase of a policy.

Check with your state's insurance department for laws regarding unclaimed property (if life insurance existed but the insurance company cannot find the beneficiary, policy proceeds could get turned over to the state's unclaimed property division).

You can call the larger life insurance companies and simply inquire as to the existence of any policies where your husband is the insured.

You may also want to check with the MIB (medical information bureau) at www.MIB.com. This organization can do a search for a fee that could lead to finding a policy. Note that this is not an endorsement of MIB or their services, so please do your own research on whether or not any fees paid would be worthwhile.

I hope this information is helpful.


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