How to Find Out if Someone Has a Life Insurance Policy
Dealing with a death
When a loved one dies, there are many things that you have to do that you might not feel like doing. The problem with death is that it’s complicated. In addition to dealing with the funeral arrangements, the emotions, and the rest of the family, you will also need to deal with the financial side. A huge part of that is finding out whether another person has taken advantage of the best life insurance rates at some point in the past. Luckily for people who are struggling through this time, it is quite easy to find out if someone has a life insurance policy once they have passed away.
Contacting the insurance agent
The first step is to get in touch with the person who has been selling insurance to your loved one. You might not know that your loved one has specifically bought life insurance, but you still need to get in touch with the agent. Often, this will be the person who has shown your loved one the best life insurance rates or have sold your loved one top term life insurance premiums. They will know whether that person has life insurance and they will be able to communicate that with you. Usually there is some documentation that is necessary in order to get your hands on this information, but you won’t have to jump through hoops.
What will I have to show and do?
If your loved one has purchased one of those term life insurance premiums or perhaps a whole life insurance policy, then you will have to present the insurance agent with a death certificate. Likewise, you will have to provide documentation on your relation to the deceased in addition to signing a form. The process is really quite easy and most insurance companies make it easy because of the circumstances. They recognize that people who are struggling with a death do not have time nor the desire to go through a prolonged process. As long as you follow their procedures, you should have no problem figuring out whether someone has a life insurance policy.
What if they are still alive?
What if you want to know whether someone has a life insurance policy while they’re still living? Privacy laws and policies at insurance companies would preclude you from calling and finding this information out. The best bet is to sit down with the person and make sure they understand the options in front of them. This is a responsible move.
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