Over a Billion Dollars in Unclaimed Life Benefits, How Do You Claim Your Share? A life insurance policy.
According to a Consumer Reports study, there are over 1 Billion Dollars in benefits from life insurance policies that have been unclaimed as of 2013, the number is surely rising and begs the question, how do you know if you are a named beneficiary entitled to a death benefit and how do you find out? There are several ways to find a lost life insurance policy.
You May Be the Beneficiary On A Life Insurance Policy and Not Know About It
You learn a lot about a person after they die and you might be surprised to find out how many people are entitled to death benefits and never had any idea. It can happen because a person just wanted to leave you a gift, but never wanted to let you know, or it can be simply because a person forgot about a smaller policy because they changed their primary life insurance policy. They may have even forgotten you were listed as a beneficiary.
In some cases, a person may have taken out a life insurance policy and had no one close to list as a beneficiary, and chose you. Stories surface all the time, where people had no idea a person named them as beneficiary, and suddenly find out they have money coming to them. There are many reasons for life insurance policies to go unclaimed, it is estimated that 1 in 600 people are entitled to an unclaimed benefit.
5 Steps to Uncover Secret Life Insurance Policies or a Lost Policy
These 5 steps will help you find out how to search for a life insurance policy and make a claim if you're entitled to money. Just because a person didn't tell you they had a life insurance policy, doesn't mean there is not one, and you should try your best to find it as soon as possible so that any assets in the policy do not get used up in paying premiums.
Tips to Find a Lost Life Insurance Policy
There are many cases where people can not find the insurance documents that have been lost over time. When you lose someone close to you it is often overwhelming and finding documents can be difficult. These tips will help you figure out how to find a lost life insurance policy, or how to find out if you're entitled to a death benefit that you didn't know about.
There are many different types of life insurance policies or death benefits, employer programs may offer them as part of health insurance benefits too. There are cases where a life insurance company is not aware that the policyholder has passed away. This is especially important with life insurance policies that provide values, like indexed universal life insurance policies. Time is important, so let's get started.
Answers to Questions About Lost Life Insurance Policies
What happens to the death benefit if no one claims the money?
Where to look for information about a life insurance policy when someone close to you dies
How to search for a lost life insurance policy
What to do if you don't know who the life insurance policy was with. Find the insurance company and make a claim
What information will you need to make a claim
Who can get information about a lost life policy
The best term life insurance
How to Find Out If You Are You Listed as a Beneficiary on a Life Policy