Client's Mother-in-law Died...did She Have Life Ins?

[beevelbop]

Hi,

I don't think there is an answer for this...but if there is somebody here's got to know!! I have a client who's mother-in-law passed away about a year ago. His wife told me she was SURE that mom had life insurance, but they aren't sure which company it was through.

QUESTION...is there a database or agency that can check for life insurance coverage based on ssn/name/whatever? Hopefully you guys can help.

THANKS!!!!

 

[STIBROKER]

Hi,

I don't think there is an answer for this...but if there is somebody here's got to know!! I have a client who's mother-in-law passed away about a year ago. His wife told me she was SURE that mom had life insurance, but they aren't sure which company it was through.

QUESTION...is there a database or agency that can check for life insurance coverage based on ssn/name/whatever? Hopefully you guys can help.

THANKS!!!!

no....you just have to go through her things and look for a policy and go through all her banking and see if you can find payments to a insurance co.....

 

[beevelbop]

no....you just have to go through her things and look for a policy and go through all her banking and see if you can find payments to a insurance co.....

Thanks Stibroker! I advised client to start going through bank statements. Appreciate it!!

 

[WinoBlues]

Hi,

I don't think there is an answer for this...but if there is somebody here's got to know!! I have a client who's mother-in-law passed away about a year ago. His wife told me she was SURE that mom had life insurance, but they aren't sure which company it was through.

QUESTION...is there a database or agency that can check for life insurance coverage based on ssn/name/whatever? Hopefully you guys can help.

THANKS!!!!

As mentioned go through her accounts. Not a bad idea to go through old statements also. As a paid up policy would not show currently.

MIB has a service that I think charges $75 to do an MIB search.

Companies are doing social security number searches looking for deceased policyholders so something could pop up later.

Look for any insurance agent's business cards

Good luck

 

[beevelbop]

As mentioned go through her accounts. Not a bad idea to go through old statements also. As a paid up policy would not show currently.

MIB has a service that I think charges $75 to do an MIB search.

Companies are doing social security number searches looking for deceased policyholders so something could pop up later.

Look for any insurance agent's business cards

Good luck

Thanks bro!!! That MIB option looks awesome...I will advise client!

 

[senior-advisor-indiana]

What happens if a person passes away and no claim is made because no one else knows there is a policy is in force. Policy lapses and company gets off the hook?

 

[WinoBlues]

What happens if a person passes away and no claim is made because no one else knows there is a policy is in force. Policy lapses and company gets off the hook?

Companies are checking the death rolls through Social Security.

I just notified a bene about a benefit on his mother that dies years ago.

 

[VaDwayne]

Hi,

I don't think there is an answer for this...but if there is somebody here's got to know!! I have a client who's mother-in-law passed away about a year ago. His wife told me she was SURE that mom had life insurance, but they aren't sure which company it was through.

QUESTION...is there a database or agency that can check for life insurance coverage based on ssn/name/whatever? Hopefully you guys can help.

THANKS!!!!

I know this doesn't help right away but if the proceeds go unclaimed they will be turned over to the state. It will be considered unclaimed property and the closest relative will be able to apply for it. I just did this with a little $1000 policy that my mom had, and we didn't know about. I am also basing this on Virginia.