If you believe that a policy may have been purchased in Canada, please try to contact the Canadian Ombuds Service on life and health insurance to obtain information. If you know (or can guess) where the policy was purchased, you may want to contact your state's Comptroller Department to find out if they have any unclaimed funds in the death-related life insurance policies.
Generally, life insurance companies who know an insured has passed away, but cannot find the policy beneficiaries, are required to surrender policy benefits to a state unclaimed property office. If you locate the policy, but cannot find the name of the company listed on the policy, the insurance department can let you know whether the company has moved, changed its name, or merged with another life insurance company, as well as give you its current address and telephone number.
You could also give your beneficiary the name of your life insurance company and the number on the policy so that he has another way of finding out about your coverage if you suddenly die. If you know your insurer's name, but cannot find the policy, you could contact the company and ask it to run a search. The NAICs life insurance policy locator allows you to send a request to participating life insurance companies to search their records to find your loved one's information.
If you can locate records for your loved ones' auto or home insurance, you can ask these companies whether the individual also has a life insurance policy with them. If you have the tax returns for the other person who died, you could also look at whether he received any proceeds from the life insurance policy's permanent cash value. If that person worked with a financial advisor, accountant, or another financial professional, you can also contact that financial advisor and ask them if they know of something, or if they have advice on finding lost life insurance policies for their previous clients.
Look through address books to find the contact information of the financial professional that a loved one had that might have sold the policy. According to III, private companies may be able to assist in your search for your lost life insurance policy, by contacting your deceased insurers on your behalf. Cash Value, or Cash Surrender Value, of a Whole Life Insurance Policy A life insurance policy is the amount of money that a policyholder would get back in return, should he or she cancel the coverage and surrender the policy to the company before the policy expires. While many of these types of policies carry cash surrender values, universal life is focused on maximizing the amount of coverage available for each dollar of premium. Universal life is a specific type of permanent policy that has been sold as having guaranteed protection for the longest period at the lowest rate -- this is quite different than term insurance.
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