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Question for the Money Doctors

Question submitted on May 3, 2014.

Question

i need to find out if my deceased husband had a life insurance policy that was pd up

Answer

Sorry about your loss. This will take some detective work on your part.

1. Check your mail to see if you have any statements from an insurance company. It would have information about a policy's value, status, etc. If it is not paid up, there would be an invoice for the premium.

2. Go through the canceled checks to see if there are any premium payments made to an insurance company.

3. If he was employed, check with the employer to see if there was any Group Term Life insurance.

4. There is a service you can contact called the Medical Information Bureau (MIB) and for a fee, they will do a search for an insurance policy. I have no experience with them.

5. You'll have to hunt around the house for any insurance statements or policies. Check your safe deposit box.

6. Once you do find a policy, you will need the death certificate and other proof so the insurance company can talk to you.

The insurance company will not know if there is a death unless they have been notified by the family and then they will search for beneficiaries.

You can also go to your state to see if there is any Unclaimed Property in your husband's name - this could be old bank accounts, uncashed dividend checks, and even tax refunds. Good luck!


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