Jacksonville, Florida — Please make sure you stop and check out what to do if you have lost a whole or term life insurance policy. If you have misplaced or lost records it can create havoc in the event of a persons death. Many family members may not be aware that any wills or term life or whole life insurance policies even exist after that passing of a loved one, leaving them to sort out the assets and liabilities left behind. Read more today.
“Unfortunately, there are no public records relating to life insurance transactions. If a database existed it might be easier to determine if a deceased family member has obtained whole life insurance, but no such database exists”, said Vince Bagni of Paramount Life Insurance.
When faced with such a dilemma, some basic detective work may have to be employed in order to find missing policy information. One of the first places to search is the deceased person’s bank. Find out every bank that the person may have conducted business with, and you will first want to review all of their past bank account records. Cancelled checks or automatic withdrawals for premium payments to an insurance company may have policy information on them. Next, check out any safe deposit boxes as many people will keep life insurance policies in them.