Often people will let loved ones know that they have life insurance policies, but after the policy holder passes away the beneficiaries have difficulty finding any information about the policies. Tracking down these lost insurance policies is an important step in estate administration.
A life insurance policy is only as good as the ability of beneficiaries to receive the money after the policy holder has passed away. When the beneficiaries do not know the company that wrote the policy, they need to track down the necessary information so they can contact the company and have the policy paid out.
Often, this is a task that falls to the executor of the estate.
Recently, Nerd Wallet published a list of helpful tips to conduct this task in an article titled “How to Find a Lost Life Insurance Policy.”
The list includes:
Reference: Nerd Wallet (March 31, 2015) “How to Find a Lost Life Insurance Policy.”
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