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 Posted: Thu Sep 11, 2008 12:56 am Post subject: Insurance Policy |
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If Someone dies and they informed one that he is the beneficiary over a policy and never informed them of insurance information , what is the best way, if any, to find out who's the insurer.
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anonymous2
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| Posted: Thu Sep 11, 2008 3:44 am Post subject: |
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If you have access to the decedent's checking records, you may be able to determine what insurance policies he or she has paid for. This may give you a start. There may be a policy number on the bank statement.
The insurance company should make an attempt to contact the beneficiaries that are due monies. However, if the insurance company is not aware that someone is deceased, there is no way that they can start that process.
If you can figure out who the agent is for any policies the agent should be able to tell you if you are the beneficiary on any policies he or she sold to the decedent. Agents should not give out such personal information under most circumstances, but in this situation, there should not be any ethical restrictions on telling you whether or not you are the beneficiary on a policy.
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Alston
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| Posted: Thu Sep 11, 2008 5:11 am Post subject: |
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Hi, you have a number of options to choose from. Some of them could be as follows:
* Check the bank account statements & note the withdrawals
* Call the friends & family friends
* Check up with the companies that have a close possibility
Regards, ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 5:41 am Post subject: |
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Well my friend..to tell you the truth there is no country-wise database that would help you locate the insurance policy. But yeah
you may try out the following options-
1> Consult with the company that your relative was last employed
with.
2>. Consult with the agent from which the policy was obtained.
3.> Try & enquire if the policy holder had the policy from any business association or group to which he was associated.
I think these are the natural ways to look for it!
Evan |
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evan
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| Posted: Thu Sep 11, 2008 5:49 am Post subject: |
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Hi all,
I think the Policy Locator service is also quite good!
It is a real effective alternative for the manual searches. They have some old archives which would even help to identify the original issuer. IT has a vast database of all the absorbed companies as well as the holding companies.
It would cost you somewhat between $75 for each search & yield a real time saving & accurate output for you. I'm sure its a great work-process whenever you're dealing with bulk lead generation for your company. Thanks, ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 6:05 am Post subject: |
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Hi, I was just going through an insurance article & came across the
following suggestions which might be good for you-
They say- if you go through his insurance related docs it might do
some good to you.
- Surf through his files.
- Check out the safe-deposit boxes with his bank.
- Check out the store-rooms normally used by him.
Regards, Evan |
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evan
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| Posted: Thu Sep 11, 2008 6:08 am Post subject: |
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Hi..
I'd also like you to perform the following..
* Go through his address books in order to find the names of agents who he may have contacted for this purpose.
* Check out with other insurance he may have communicated for his
home, auto or health policies.
I'm sure these are pretty good options in order to get to the bottom of it.
Thanks, ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 6:18 am Post subject: |
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Hi..
A certain class of people would not forget consulting the professionals who were closely associated with the deceased. See if you would like to consult professionals like-
Accountants, advisers, attorneys, investors etc. I'm sure they could prove to be useful to you for some specific cases.
Regards, Evan |
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evan
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| Posted: Thu Sep 11, 2008 6:32 am Post subject: |
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| Hi, some people would just review the deceased's insurance applications. They do it simply because of the fact that the insurance applications are attached with the policy itself. It is one good reason that upon locating the policy the first thing you need to do is to start hunting for the application which may have been attached with the policy papers. This application would more often show you a list of all policies obtained during the sign-up. ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 6:46 am Post subject: |
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Hi,
I think checking all the deceased's mails could also trigger
some vital outcomes. I mean, the mails that have been forwarded to the insured ever since an year prior to his death could truly
convey some significant information regarding the missing policy.
The premium & dividend notices would certainly be fruitful in this regard.
Under circumstances that the deceased had paid for the policy, there are little or no chances of locating premium notices. Still, I see there is a chance that the company could have forwarded notices in connection with the yearly status or the calculation of dividends. I'm sure you'd agree with me at this one! Evan |
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evan
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| Posted: Thu Sep 11, 2008 7:22 am Post subject: |
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Yes Evan, apart from checking the bank docs..I feel the income tax returns could be of some help as well.
Any doc showing up the destination of interests paid or the sources of interests accrued could be useful for this purpose. Interest is generally paid by the life carriers upon the accumulated balance of the permanent policies. On the other hand they would ask to pay for the interests accrued on policy loans.
ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 8:22 am Post subject: |
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Right you're!
The MIB database depicts all life policies that were obtained within the past 12 years. As a collection of records it is good. But I've seen how the searches would match - its probably 1 in 4 trials. But yeah, while you're going at it...almost everything is good! Evan |
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evan
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| Posted: Thu Sep 11, 2008 9:10 am Post subject: |
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Guys, NAIC has its own life insurance carrier locator. They have a system that enables people to identify their desired carrier through some state insurance dept. official. Check out the NAIC company location system .
ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 11, 2008 9:45 am Post subject: |
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Hi all.. it is a life insurance company's responsibility to convey the death benefit of a deceased policy-holder over to the state wherein the policy was issued under circumstances when it becomes difficult for them to identify the beneficiary of the policy.
Such benefits could be termed as " unclaimed property".
So in your case, if you can form any idea of where from the policy may have been purchased, then please communicate it to the State controller's dept. in order to make sure whether it possesses any unclaimed money which may have belonged to the deceased policy holder.
Regards, Fatman |
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fatman
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| Posted: Thu Sep 11, 2008 10:10 am Post subject: |
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My friend, if you find its getting tougher for you to penetrate through the different insurance companies, it would be good for you to seek a pvt. company that does it on your behalf. You'll come across websites depicting such services quite often!
Roddick |
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roddick
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