Q:

How do I find out about old insurance policies?

A:

Quick Answer

To find out about old insurance policies, a claimant should collect the personal details of the insured person and present them to the insurance company that wrote the policy. A person can also check with the state insurance department of the state in which the policy was issued.

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Full Answer

If the insured person has been dead for several years, the insurance company might have turned over his benefits to the unclaimed property office in the state where the policy was issued. An individual with the right authority can search the personal records of the deceased policyholder, such as safe-deposit boxes and email accounts, for personal details.

To avoid the issue of lost policies, an insured person should update his beneficiary information regularly and should also alert the beneficiaries about the policy. An individual should provide his beneficiaries with the name of his agent and the insurance company the policy is made with. The insured person must ensure that the insurance company has the current contact information for each beneficiary.

Insurance companies have been accused of not doing enough to locate beneficiaries once policyholders have died. Some insurance companies start deducting premiums from the policy amount once the policyholder dies until the account is depleted. In cases where the insurance company that wrote the policy no longer exists, an individual can use the insurance information institute to find out what happened to the company.

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