if my parents die how do i find out if they have life insura

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PostPosted: Sat Sep 22, 2007 3:55 pm   Post subject: if my parents die how do i find out if they have life insura  

father passed away not sure if he has life insurance

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PostPosted: Sat Sep 22, 2007 10:39 pm   Post subject:   

Welcome to the Community Very Happy I'm kind of confused- you said if your parents die- then you said your dad passed away.



Does this mean your mother is alive? IF so, why not ask her. As we get older and our parents do to, it's always wise to sit down with them and discuss these issues with them, before it gets to a point they don't remember, or are gone.



Good Luck to you..KAren

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PostPosted: Sun Sep 23, 2007 10:15 am   Post subject:   

If, (for whatever reason), your mother is living, but cannot supply the information, and you have exausted all other family members, searched thru your Dad's 'papers'. I'd start with calling whomever is/was his agent re:auto or homeowners policies, see if they have any information. If your father took care with his 'important papers' and you have located other things (ie, taxes, ss, health related things etc). I would bet he didn't have any, as would assume they would be together.



There was another post similar in nature, about not being able to find a beneficiary, you might look at that as well.







Also agree with Karen, honey, which is it?

Quote:


if my parents die how do i find out if they have life insura




Quote:
father passed away not sure if he has life insurance




If they are living, NOW is the time to find out about these things !!!
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PostPosted: Sun Sep 23, 2007 1:52 pm   Post subject:   

Quote:




As we get older and our parents do to, it's always wise to sit down with them and discuss these issues with them, before it gets to a point they don't remember, or are gone.







My parents are not that old yet but you know, I will have to do that some day. You never know what tommorow can bring Confused
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PostPosted: Wed May 14, 2008 3:43 pm   Post subject: finding their money after they passed  

i believe there are life insurance policys and investments we dont know about,how do i find those


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PostPosted: Wed May 14, 2008 7:16 pm   Post subject:   

There is a service offered by a company called MIB Solutions. Costs $75.00 but if you really need to find out fast it may be worth it. Check them out at:



http://www.mib.com/html/lost-life-insurance.html



Or do it the old fashioned labor-intensive way and follow these tips:





Check your loved one's papers and address and telephone books to look for life insurance policies and the names of insurance agents. Contact every insurance company with which they had a policy, even if you're not sure it is still in force.



Check with the employee benefits office at their latest and previous places of employment. Or, check with the union welfare office.



Check bank books and canceled checks for the last few years to see if any checks may have been written to pay life insurance premiums.



Check the mail for a year after death for premium notices, which usually are sent annually. If a policy has been paid up, there will not be any notice of premium payments due. However, the company may still send an annual notice regarding the status of the policy or it may pay or send notice of a dividend.



Review your loved one's income tax returns for the past two years. Look for interest income from and interest expenses paid to life insurance companies. Life insurance companies pay interest on accumulations on permanent policies and charge interest on policy loans.



Check with the state's unclaimed property office to see if any unclaimed money from life insurance policies may have been turned over to the state. If, after a number of years, an insurance company holding the unclaimed money cannot find the rightful owner, it turns the money over to the state.



Of course, you may wish to contact life insurance companies directly to see if a policy exists. Each state insurance department has a listing of life insurance companies licensed to do business in its state.



Best of luck to you.

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PostPosted: Sun May 25, 2008 5:23 pm   Post subject: yes  

You will definetely find some solution online for sure but it takes some time to verify and check. Its always better to know from parents before hand. cheers

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PostPosted: Mon May 26, 2008 9:28 am   Post subject: insurance  

My neighbor's mother recently passed away. According to the mother, she had a Life Insurance policy 'valued' at $15,000.00. She ( Mom) couldn't remember where her papers were, etc. However....she DID remember where she bought the policy from. When my neighbor 'checked it out', she DID find out about the Insurance company that held the policy. Sad to say, the Insurance policy was bought YEARS ago and the Insurance company is no longer in existence....to top it all off ( sad to say..) the policy was NOT $15,000.00. It was for $1500.00. Neighbor's mom had SOO many un-paid bills. I feel sorry for her.

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PostPosted: Mon May 26, 2008 3:30 pm   Post subject: so sad  

Its really sad to hear these kind of news. Let us hope everything settles soon and somehow she gets some help..

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PostPosted: Thu Jun 05, 2008 4:43 pm   Post subject:   

This is a tricky issue to tackle. The question here is, how will you know that your parents have life insurance policies after they died? Ask the insurance companies in your area. If your parents have a life insurance policy, it is more likely that they will purchase it in your locality.

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PostPosted: Thu Jul 10, 2008 9:04 am   Post subject: Need help for friend. ASAP  

My friend's Mother just died. She and her mother were not exactly close, but they were not estranged by any stretch of the imagination. the mother had been living with one of her other daughters for the past three years. There are a total of 3 children. All of the kids live in different states and though mom stayed with the one kid in Colorado, she still owned a condo in FLorida which she had been trying to sell for last couple of years. The condo is paid in full and her mother is current on all condo association fees. Here is the problem in a nutshell. My friend has zero knowledge of mothers finances. Does not know what she owned or what she owed at time of death. Is not even sure if there is a current will in effect anywhere. The daughter she was staying with is being completely uncooperative. Claimied she did not know if mother had a will or what her finances were. On the other hand, she let it slip that she knows her mom wanted to be cremated because it said so "in her will." At that point she went even further and said that not only was she the executor of the will, but everything was left to her.



How can my friend find out if there was a will? What is my friends next move? What information is she legally entitled to? She is the oldest surviving sibling. Knowing her mother, I find it impossible to believe that she died without a will and without life insurance. There is also the matter of some money that the mom had been left by her own father about 15 years ago and there should be something left from that as well, although the daughter she had been staying with may well have swindled her out of that. Body is due to be released by coronor in a couple of days.



Any help greatly appreciated!


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PostPosted: Thu Jul 10, 2008 9:58 am   Post subject:   

If I were the inquiring daughter (what about the third kid?). I would tell uncooperative sister that she either produce that will NOW or I would be marching to the court house and filing a probate case. Then I would do it! She will probably need to contact an attorney in the county that mom resided and passed away in to do this...If there is a will (I think) it will have to go thru probate, (also if there is not!)....She may be able to get information by calling the probate court and talking to a clerk, just explaining the circumstances. Also I'd contact the condo association and tell them that as far as I was concerned I'm part owner of that condo, and if they approve a sale, I will challenge it later in court...(don't know if that would hold up, but I'd try!)...Do keep us updated...also (sorry just got to say it)...it's just so sad that sisters would treat each other this way rather than being a comfort to one another in the loss of their mother....just a shame...



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PostPosted: Thu Jul 31, 2008 12:19 am   Post subject: Looking for stories of unfound Life Insurance Policies  

Hello everyone!



It is EXACTLY these circumstances which you are all speaking of, that we started findyourpolicy[dot]com . Our service caters to those who are living NOW. The member, or insured, would sign up with FindYourPolicy.com and register 2 beneficiaries. Once signed up, FindYourPolicy.com will Proactively send the member (or insured), along with the 2 designated beneficiaries, an annual post card informing them the insured's information is on FindYourPolicy.com's website.



FindYourPolicy.com only requires the member to register the COMPANY NAME ONLY of their Life Insurance as this is the MAIN reason why so much grief continues.

There are 2 main reasons why policies are not found:

1. The beneficiary does not even know they ARE the beneficiary so they don't even look

and

2. The beneficiary knows they are the beneficiary but does NOT know the

COMPANY NAME of the Life Insurance policy and other assets.



As we hear from all your above comments, FindYourPolicy.com definitely solves these situations! Again, you need to be ProActive and prepare in ADVANCE all this information. We are a subtle, inexpensive, low risk service which will be invaluable when the time comes. No headaches, just look the information up and it will be at your fingertips!

FindYourPolicy.com does not ask for your full social security number, any policy numbers, any account numbers or any monetary information. The member ONLY registers the COMPANY NAME of their Life Insurance so that, when the time comes, their loved ones will be able to locate your legacy easily and painlessly.

For instance, if you, the insured, has life insurance with ABC Insurance company, then for your beneficiary to view your information, they would only have to enter your last four digits of your social security number along with your name and birth date, and ABC Insurance company would show up.

The last thing on everyone's mind is the struggle one will have to go through to find and locate your Policy if they would need it to assist in any burial. (this is the situation we came across when our father died..and we never wanted it to happen to anyone else...this is the reason for our service!)



There is plenty of information on our website. Please view it and you will be pleased with the results.

Please remember, FindYourPolicy.com is a ProActive service...it will benefit those who are alive NOW...so that their loved ones will not have to worry if something were to happen to you in the future. We created this service to assure those who understand the importance of many circumstances, and to make sure that all the necessary information is accesable by your beneficiaries NOW, so that your beneficiaries are not looking for your information when it is too late!



One other item, as a member, we offer a FREE service to those who have a Life Insurance company's name, however, cannot find it due to it merging or being bought out by another company. We will be pleased to assist in locating this information for you!



I hope this is helpful to everyone out there! If you have any questions, please feel free to contact me through our website or by phone.



Thank you for everyone's time!



Michael



*system edited-link removed

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PostPosted: Thu Aug 07, 2008 5:06 am   Post subject:   

I am saddened by the fact that there are children who are not sure if their late parents have life insurance.



It takes only a few minutes for parents while they are still alive to inform their children about the insurance plans they have purchased. Failure to do so always results in hundreds of hours of time spent by the children to find out if their late parents actually had insurance.



The same goes to insurance, it takes probably a fraction of our income to own an insurance plan. The reluctance to do so sometimes results in financial hardship for our surviving family members.

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PostPosted: Thu Aug 07, 2008 11:25 am   Post subject:   

Xoseph, You are so correct. As a Life Agent, I have found that individuals with Life Insurance do not make informing their beneficiaries a priority as they feel that someone in their family will find it. Especially if the insured does not mention a custodian for their children. If the insured where to pass away, no adult would know because they feel that the Insurance company will inform someone when they pass. If no one knows the company name there is no way of the Insurance company knowing that the Insured passed away. Telling someone once is just not enough. People forget and lose paperwork, just too easily. FindYourPolicy.com assists individuals to keep this information around and easily accessible. With just the last four digits of your social security number and your date of birth (both found on a death certificate) this information can easily be retrieved.



Michael


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