QUESTION
How do I find out if my parents had a life insurance policy?
Asked on Aug 11th, 2012 on Estate Planning - Michigan
More details to this question:
My parents recently passed away and it just doesn't seem like they would have no death benefit coverage or life Ins. They had always preached to us about it but we cannot find any paper work on it. How can I find if they had anything that we didnt know about?
13 ANSWERS
Your parents should receive some sort of annual notice or report from any company that holds a policy on them. You can wait for that document or look through their checking account records to find a premium payment. Check with their employer(s) to see if it has any record of a policy. If you live in a smaller community, you can call your local insurance agents and ask.
Answered on Aug 27th, 2012 at 12:39 PM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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Several ideas:
1. Review their old checking account records to see if you can find records of premium payments.
2. See if they had a safety deposit box with their bank.
3. Talk to their insurance agent for their car, their house, and whatever else they had insured.
4. Talk to any money managers they may have had.
5. If they refinanced their house recently, ask the bank for a copy of their loan application, to see what they listed as their assets.
Unfortunately, there is no central repository of insurance policy records, like there is for real estate deeds and things. Good luck.
Answered on Aug 27th, 2012 at 12:39 PM
Litigation Attorney serving St. Louis, MO
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Probate Law Center Richard J. Keyes, PC
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Go through you parents' checkbook and look for any payments to any insurance companies.
Check the mail also.
It may be up to a year before an invoice comes in for any life insurance premiums. Please also check with the Missouri State Treasurer's Office for unclaimed funds.
Also check New York.
Finally, I have had matters where the insurance payments come up 10 years after the fact.
Answered on Aug 27th, 2012 at 12:38 PM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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You will have to really dig for some clues in all of your parents paperwork, accounts, tax returns, etc. to find some clues, including where they were employed and obtain their employment records, or retirement accounts, or stock accounts, last bank records, automatic payment records, last credit reports, online records, question other relatives and friends, real estate records.
Answered on Aug 27th, 2012 at 12:37 PM
Check all places information might be stored and contact any insurance agent they did business with.
Answered on Aug 21st, 2012 at 3:04 PM
Business Law Attorney serving Livonia, MI
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Gerald A. Bagazinski
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Check their employer handbooks from the employer where they retired from. If they belonged to a fraternal organization, call the benefit representative. The State of Michigan periodically will have policies escheat to them.
Answered on Aug 21st, 2012 at 3:04 PM
Alternative Dispute Resolution Attorney serving Baltimore, MD
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Whiteford, Taylor & Preston L.L.P.
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After going through all of their personal papers, you could have an on-line database do a search (for a fee), or you could contact insurance companies directly.
Answered on Aug 21st, 2012 at 3:03 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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Czech their bank statement for premium payments, watch their incoming mail for statements. Speak with their previous attorney if they had on, check with their insurance agents, estate planners or financial advisors. You should hire a attorney to get this and their estate straightened out and closed.
Answered on Aug 21st, 2012 at 3:03 PM
Federal Taxation Attorney serving Livonia, MI
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Gold & Associates PC
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Check the house, monitor the mail especially at year end, check with their attorney and accountant, check a safe deposit box.
Answered on Aug 21st, 2012 at 3:03 PM
3 Awards
There is no easy answer. You will need to do leg work. Contact their former employers, home and auto insurance agents, review one to two years of bank records, etc.
Answered on Aug 21st, 2012 at 3:02 PM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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You can check to see if they were paying premiums to any company. If they had a financial planner, you could check with him/her. I would also review all of their important paperwork to see if there is any indication of insurance, there.
Answered on Aug 21st, 2012 at 3:02 PM
Leonard A. Kaanta
There no central listing of who owns insurance policies. You need to keep searching.
Answered on Aug 21st, 2012 at 3:02 PM
If you are the personal representative you can have the mail diverted to your house. Eventually, they will get a premium notice from a life insurance company (unless it is all paid up). Also you can check back through their credit card and bank records for signs of the payment of premiums. You can also search very carefully through their papers at home and check with their lawyer or accountant.
Answered on Aug 21st, 2012 at 3:02 PM