Understanding Insurance Issues

3 Tips To Help You Determine If A Deceased Loved One Had Life Insurance

When someone you love passes away, it is wonderful if you had a close enough relationship with that person that they shared with you the details about their final plans and life insurance policies. However, it is not at all uncommon for people to just not talk about such matters. Therefore, you could easily be left trying to handle your loved one's final affairs without even knowing if they had life insurance or not. In these situations, tracking down an unknown life insurance policy can make all the difference in your stress levels about having to pay for the funeral and arrangements. Here are a few tips that can help you determine if your loved one did have a life insurance policy. 

1. Take a look at their banking documents. 

If your relative did have life insurance, unless it was provided through a lender or employer, they would have most likely been making premium payments regularly. Take a look at their financial documents, such as their banked statements, to see if you payments to an insurance company listed. If you do find one, reach out to the insurance company and let them know the situation. Most of the time, they can help you walk through the claim process as long as you are the designated beneficiary. 

2. See if there is a state insurance commissioner in the deceased's home state. 

If your relative lived in a state that has a state insurance commissioner, the information about their policy may be available for you to access. The National Association of Insurance Commissioners actually gives you a website where you can look for policies that may exist. Remember, this is not a definitive way to find a policy on someone, but it can definitely help if the state where you live has registered that information into the database. 

3. Check with your relative's employer. 

If your relative was employed at the time of their passing, they may have carried life insurance through their employer. Because this form of life insurance is usually company provided or sometimes paid in part by the company, you would probably not find a bill for the insurance just laying around in your loved one's home. Therefore, contacting their employer directly can be your best route to information about a possible life insurance policy. Contact someone in human resources because this is the typical office that handles insurance processes in a place of employment. 

For more information, contact companies like United Counties Insurance Group.