Trying to find a life insurance policy left behind by a loved one can seem like an intimidating task, but it does not have to be. Life insurance policies can be located by checking financial records, looking through old files or even by checking with insurance companies that were used for other types of policies. And if all else fails, the insurance company will send out a notification of benefits or a bill for premiums periodically. If the deceased had a personal insurance agent, contact that person first, because they may of other policies that were written, even if they did not write them.
Look through old bank ledgers or statements. If the deceased had a life insurance policy in effect, they probably made regular payments, either monthly or annually. Looking through canceled check and other bank information can help to reveal an insurance company that had been receiving regular payments. You should also check with the bank to find out whether the deceased had a safe deposit box. If so, the policy may be safely stored at the bank and available for immediate access.
Because insurance companies offer discounts for having multiple policies written by the same company, you may be able to locate a life insurance policy by sorting through other insurance papers. If the deceased had home or car insurance, check with the company that was used and find out if there are any other insurance policies written for the deceased. Identify yourself and your relation to the deceased and explain why you are inquiring. Odds are that the customer service department has dealt with similar situations in the past and help you find the information you are looking for.
Finally, one of the most common ways for an insurance company to find out a life insurance policy has matured is when the premiums stop being paid. After missing a billing cycle, the insurance company will send out a late notice. By checking the mail for the deceased over the course of a month or so, you may be able to locate a life insurance policy. Keep in mind that some policies are written to pay their own premiums, but even these types of policies will provide regular statements to notify the policy owner of the status of the account.