As many as one in 600 people are beneficiaries of a lost or forgotten life insurance policy. Those policies can add up to a large amount of unclaimed cash. Use the steps below to find a lost policy and claim any benefits you or a loved one may be owed.
Search the House
Start with any filing cabinets, safes, important-paper piles or boxes where the policyholder kept financial documents. Check closets, desk drawers, and personal files at the policyholder’s home and the homes of close relatives.
Remember When You Purchased the Policy
Try to recall details about the purchase: the purchaser’s name and Social Security number, the selling agent, the insurance company, approximate purchase date, and the type of policy. Use these details to contact the insurance company that sold the policy and request a copy. Consider contacting the attorney, accountant, or financial advisor who handled the person’s affairs, or ask your agent.
Search Financial Documents
Bank statements, cancelled checks, and credit card records may show premium payments or the name of the issuing company. These documents can help you identify the insurer and locate a missing policy.
Contact the State Insurance Department
If an insurer cannot locate a beneficiary, benefits are often turned over to the state unclaimed property office. For general background on life insurance and how to proceed, see Life Insurance: Overview. Then contact the insurance department in the state where the policy was issued for next steps.
Contact Former Employers
Some policies are group life insurance issued through employers. Reach out to any former employers, human resources departments, or pension administrators for records that may identify a group policy.
Avoid Scammers
Be cautious if someone contacts you claiming they can find unclaimed life insurance money for a fee. Verify any offer by calling the insurance company directly and do not share sensitive personal information until you confirm the caller’s identity.
Prevent Losing an Insurance Policy
- Clearly name all beneficiaries on life insurance policies.
- Inform beneficiaries about the policy and provide the names and contact information of the insurance agent and issuing company.
- Store the policy and related documents in a logical, secure location such as a fireproof safe or safety-deposit box, and give copies to a trusted advisor, lawyer, or family member.
Following these steps increases the chance that policy benefits reach the intended beneficiaries. If you need a refresher on basic policy types and terms, see What is Life Insurance? for a plain-language overview.
Frequently Asked Questions
How do I know if a relative had a life insurance policy?
Check their important papers, contact their employer and financial advisors, and search bank statements for premium payments or insurer names.
What if I can’t find the policy or the insurance company says there’s no record?
Contact the state insurance department or the state unclaimed property office where the policy was issued to search for missing benefits.
Can someone charge me to find an unclaimed policy?
Be wary of firms that demand upfront fees; verify their claims by contacting the insurer directly before sharing personal information or paying for help.
How long do beneficiaries have to claim life insurance proceeds?
Time limits vary by state; if a beneficiary cannot be located, funds may be sent to the state unclaimed property office, so act promptly to claim them.