What to Do When You Can’t Find a Life Insurance Policy: A Beneficiary’s Guide
Dan McKenzie • October 19, 2023
Life insurance is one of the most valuable assets in many probate cases and trust administrations. Life insurance is a critical need for many people that can provide financial security for your family after you pass away. However, sometimes, people forget to tell their beneficiaries about their coverage or lose or misplace their policy documents. This can make it difficult for the heirs to claim the benefits they are entitled to. It is estimated that there could be as much as $1 billion of unclaimed life insurance funds in the United States!
If you are in this situation, several steps might help you locate a missing life insurance policy and make a claim:
- Ask around: Talk to the deceased’s family members, friends, co-workers, or anyone with information about their life insurance policy.
They may know the insurance company's name, the agent who sold the policy, or where the policy documents are stored.
- Contact the insurer: If you know the name of the insurance company that issued the policy, you can call them directly and ask for help.
You must prove you are a beneficiary using documents such as your identification and the deceased's death certificate.
- Search online: Some online tools can help you find a life insurance policy, such as the
Life Insurance Policy Locator Service provided by the
National Association of Insurance Commissioners (NAIC). You can submit a request with some basic information about the deceased, and the NAIC will contact participating insurers on your behalf. If they find a policy with you as a beneficiary, they will let you know how to proceed with your claim.
- Check unclaimed property: If no one claims the life insurance benefits within a certain period, the insurer may turn the money to the state’s unclaimed property office. You can check if your state has any unclaimed life insurance benefits by visiting
MissingMoney.com or
Unclaimed.org, websites maintained by the
National Association of Unclaimed Property Administrators (NAUPA).
- Consult an attorney: If you still can’t find the policy or have trouble making a claim, you may want to consult an
estate planning attorney who can help you with the legal aspects of your case. An attorney can also help you with estate planning, such as creating a will, trust, or power of attorney.
As Colorado estate planning specialists, we have helped many clients with their life insurance claims and other estate planning needs. If you need assistance or have questions, please contact us. We would be happy to help you and your family.
What next?
If you think it might be time to think through your estate plan, you can:
- Call at 720-821-7604 to schedule an "Attorney Evaluation Session," to determine whether our firm would be a good fit for your needs. Or fill out our contact form to have us call you.
- Visit our estate planning page to learn how proactively thinking through your estate plan can protect you and your family, minimize hassle, lower the chance of family discord, and minimize or eliminate taxes.
- Learn more by reading our blog or watching our videos.
Losing a loved one is overwhelming, and many families are surprised to learn that financial matters can freeze instantly after a passing. When a person dies, their legal financial identity stops immediately. This means they can no longer hold property, sign agreements, or authorize payments. Even if you hold a power of attorney—a legal document allowing you to make decisions on someone’s behalf while they are alive—that authority ends the moment they pass away. Families across the Denver metro area are often caught off guard when trying to access funds to pay for immediate expenses.
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