12 steps for locating a lost life insurance policy

March 6, 2021

Locating life insurance documents for a deceased relative can be a daunting task. However, with a little sleuthing, you can successfully navigate the paper trail. Here are some strategies to help simplify your search.

Look for insurance related documents

Search through files, bank safe deposit boxes and other storage places to see if there are any insurance related documents. Also, check address books for the names of any insurance professionals or companies—an agent or company who sold the deceased their auto or home insurance may know about the existence of a life insurance policy.

Contact financial advisors

Present or prior attorneys, accountants, investment advisors, bankers, business insurance agents/brokers and other financial professionals might have information about the deceased’s life insurance policies.

Review life insurance applications

The application for each policy is attached to that policy. So if you can find any of the deceased’s life insurance policies, look at the application—will have a list of any other life insurance policies owned at the time of the application.

Contact previous employers

Former employers maintain records of past group policies.

Check bank statements

See if any checks or automated payments have been made out to life insurance companies over the years.

The Mossad’s Top 10 Operations: Israel’s Elite Spy Agency in Action

Tragic Stabbing Incident at Notting Hill Carnival: A Mother Fights for Her Life

President Biden committed impeachable offenses relating to son Hunter’s foreign business deals, according to GOP-led committee report

Celebrating Eid al-Fitr: Gift Ideas to Spread Joy and Tradition

Yuri Milner’s Tech For Refugees Partners With UNICEF USA to Support Education for Ukrainian Children

Exclusive Insights: 2024’s Most Rewarding Crypto & Bitcoin Casino Bonuses

Check the mail

For the year following the death of the policyholder, look for premium notices or dividend notices. If a policy has been paid up, there will no notice of premium payments due; however, the company may still send an annual notice regarding the status of the policy or notice of a dividend.

Review income tax returns

Look over the deceased’s tax returns for the past two years to see if there is interest income from and interest expenses paid to life insurance companies. Life insurance companies pay interest on accumulations on permanent policies and charge interest on policy loans.

Contact state insurance departments

State insurance departments offer free search services to residents looking for lost policies.

Check with the state’s Unclaimed Property Office

If a life insurance company knows that an insured client has died but can’t find the beneficiary, it must turn the death benefit over to the state in which the policy was purchased as “unclaimed property.”

If you know (or can guess) where the policy was bought, you can contact the state comptroller’s department to see if it has any unclaimed money from life insurance policies belonging to the deceased.

Contact a private search service

Several private companies will, for a fee, assist you with the search for a lost life insurance policy. They will contact insurance companies on your behalf to find out if the deceased was insured. This service is often provided through a websites.

Like it? Share it with your friends!

How much life insurance do I need?

In most cases, if you have no dependents and have enough money to pay your final expenses, you don’t need any life insurance. If you want to create an inheritance or make a charitable contribution, buy enough life insurance to achieve those goals. If you have dependents, buy enough life insurance so that, when combined with other sources of income, it will replace the income you now generate for them, plus enough to offset any additional expenses they will incur to replace services you provide (for a simple example, if you do your own taxes, the survivors might have to hire a professional tax preparer). Also, your family might need extra money to make some changes after you die. For example, they may want to relocate, or your spouse may need to go back to school to be in a better position to help support the family. You should also plan to replace “hidden income” that would be lost at death. Hidden income is income that you receive through your employment but that isn’t part of your gross wages. It includes things like your employer’s subsidy of your health insurance premium, the matching contribution to your 401(k) plan, and many other “perks,” large and small. This is an often-overlooked insurance need: the cost of replacing just your health insurance and retirement contributions could be the equivalent of $2,000 per month or more. Of course, you should also plan for expenses that arise at death. These include the funeral costs, taxes and administrative costs associated with “winding up” an estate and passing property to heirs. At a minimum, plan for $15,000. Other sources of income Most families have some sources of post-death income besides life insurance. The most common source is Social Security survivors’ benefits. Social Security survivors’ benefits can be substantial. For example, for a 35-year-old person who was earning a $36,000 salary at death, maximum Social Security survivors’ monthly income benefits for a spouse and two children under age 18 could be about $2,400 per month, and this amount would increase each year to match inflation. (It drops slightly when the survivors are a spouse and one child under 18, and stops completely when there are no children under 18. Also, the surviving spouse’s benefit would be reduced if he or she earns income over a certain limit.) Many also have life insurance through an employer plan, and some from another affiliation, such as through an association they belong to or a credit card. If you have a vested pension benefit, it might have a death component. Although these sources might provide a lot of income, they rarely provide enough. And it probably isn’t wise to count on death benefits that are connected with a particular job, since you might die after switching to a different job, or while you are unemployed. A multiple of salary? Many pundits recommend buying life insurance equal to a multiple of your salary. For example, one financial advice columnist recommends buying insurance equal to 20 times your salary before taxes. She chose 20 because, if the benefit is invested in bonds that pay 5 percent interest, it would produce an amount equal to your salary at death, so the survivors could live off the interest and wouldn’t have to “invade” the principal. However, this simplistic formula implicitly assumes no inflation and assumes that one could assemble a bond portfolio that, after expenses, would provide a 5 percent interest stream every year. But assuming inflation is 3 percent per year, the purchasing power of a gross income of $50,000 would drop to about $38,300 in the 10th year. To avoid this income drop-off, the survivors would have to “invade” the principal each year. And if they did, they would run out of money in the 16th year. The “multiple of salary” approach also ignores other sources of income, such as those mentioned previously. A simple example Suppose a surviving spouse didn’t work and had two children, ages 4 and 1, in her care. Suppose her deceased husband earned $36,000 at death and was covered by Social Security but had no other death benefits or life insurance. Assume the surviving spouse is 36. Assume that the deceased spent $6,000 from income on his own living expenses and the cost of working. Assume, for simplicity, that the deceased performed services for the family (such as property maintenance, income tax and other financial management, and occasional child care) for which the survivors will need to pay $6,000 per year. Assume that the survivors will have to buy health insurance to replace the coverage the deceased had at work, and that this will cost $12,000 per year. Taken together, the survivors will need to replace the equivalent of $48,000 of income, adjusted each year for an assumed 4 percent inflation. Thanks to Social Security, the survivors would need life insurance to replace only about $1,700 per month of lost wage income (adjusted for inflation) for 14 years until the older child reaches 18; Social Security would provide the rest. The survivors would need life insurance to replace about $2,100 per month (adjusted for inflation) for three more years when the non-working surviving spouse has only one child under 18 in her care. The life insurance amount needed today to provide the $1,700 and $2,100 monthly amounts is roughly $360,000. Adding $15,000 for funeral and other final expenses brings the minimum life insurance needed for the example to $375,000. What’s left out? The example leaves out some potentially significant unmet financial needs, such as The surviving spouse will have no income from Social Security from age 53 until 60 unless the deceased buys additional life insurance to cover this period. It could be assumed that the surviving spouse will obtain a job at or before this time, but she could also become disabled or otherwise unable to work. If life insurance were bought for this period, the additional amount of insurance needed would be about $335,000. Some people >>Read more
>>Read more
Why It’s Worth Going With A Stocks And Shares ISA

Money is an essential commodity, so the more you have of it, the easier life tends to be. This stuff doesn’t grow on trees, though, so what can you do when you want to increase your finances significantly? One solution is to put your money into a stocks and shares ISA, rather than a cash one. It can be a risky move, given there’s a chance you might end up losing money. However, it’s also a smart decision for three excellent reasons. It Offers Investment Practice If you’ve never done it before, investing can be overwhelming, especially given the potential loss of money. However, as with most things, it gets easier the more experienced you are, and a stock and shares ISA can be ideal for giving you your start. This isn’t actually an investment but rather a vehicle for them, so you have plenty of freedom to choose where your money goes. As you play around with this, you can start to get a feel for how various investments behave and what ones are right for you. What you learn from here, you can then apply to investments outside of an ISA, which may come with a greater risk. It Doesn’t Charge Capital Gains Tax Tax is often the bane of people’s existence, which is why ISAs make for such great accounts. When you put money in here, you don’t have to worry about paying income tax, which is a sweet relief for many people. What’s great about stocks and shares ISAs is that you also don’t have to deal with capital gains tax on the profits you make from your investments. So, if you’re smart with where you put your money, you can end up boosting your finances quite a bit. It helps if you choose a stocks and shares ISA that provides the right investment opportunities and benefits that suit you best. Luckily, Good Money Guide showcases the best ISAs that are currently available, so you can see which one is most tailored to your needs. It Has Greater Potential For Growth If you’re going to put your money into an ISA, a stocks and shares one is definitely preferable over a cash one. That’s because the potential for growth is larger due to the investment opportunities in stocks and shares, as well as the setbacks of cash ISAs. The amount of interest you earn in a cash ISA is predetermined, and this generally doesn’t amount to much when the Bank of England base rate is low. If this means your interest doesn’t rise above inflation, then all you’ll actually do is lose money as time goes on. Although a stocks and shares ISA also has the potential of losing money – more so than a cash ISA – you shouldn’t overlook the chances for growth. Anyone who’s afraid of taking risks probably won’t cope well with a stocks and shares ISA. However, if you want a chance to grow your finances and get into the investment game, this is an excellent place to put your money.
>>Read more
Taking Care Of Your Motorcycle, Riding Gear, And Luggage During Covid-19

The global pandemic has us on lockdown, and we are to stay at our homes. This is to protect ourselves and others from these diseases because this is what we can do for its prevention. However, we are only allowed to get outside the house when it is important. So our vehicles, whether it is a car or motorcycle, are sort of rotting at home. You can of course use them for basic tasks when you get out of the horse. But for that you would have to take care of them not just those but also your motorcycle luggage and gear like jacket, vest, rain gear etc. Today we are going to tell you how you can take care of your motorcycle, riding gear, and luggage bags. Changing the fluids Beginning with the motorcycle itself, you have to check the fluids and replace or refill them up to the mark. For engine oil you can check the dipstick and see if the oil level is right or not. While checking, the fluids make sure the bike is standing straight. For further detailed inspection you can also refer to the user’s manual. Check other fluids like coolant etc. Mostly the motorcycle service and repair centers are operational so you can take your motorcycle to them. Before starting the bike and riding it to the mechanic check if it has enough fuel and warm up the engine first. However, it is good to postpone this task for a little longer if you won’t be going out or are in self isolation. If you are refilling yourself just you would need to follow the instructions manual and do not overfill. Once you are done with the fluids, give the bike another look and see what needs to be done. Lube the chain and tighten it well, check the ignition and lights. Tires and Brakes If the tires and brakes need replacement, replace them. If you don’t know how to, it is best to take it to the mechanic. Before riding make sure of the tire pressure and if it is rolling with ease. Use a tire inflator to get the pressure up to the mark and for a test ride. If the pressure goes down quickly, go have the bike checked up. If you have a spare tire available, put that on and take the ones you took off for checkup. Do not ride if the tread is too low. Check Filters Oil and air filters should be checked before turning the engine on. If they need replacement, it is best to do it before riding the bike. If you cannot do it, yourself then either watch some DIY videos for help, go through the instruction manual, or get to the nearest mechanic. You would not want your motorcycle to be choking. Wash Get the repairs and replacements needed the first thing. Even if you did, all needed repairs and refills let some professional check the motorcycle once. Once everything is good you now have to wash the bike thoroughly. Use motorcycle washing liquid, microfiber cloth and separate clean water to rinse off the dust and debris. Cleaning Gear and Luggage Once the motorcycle is ready, take it for a ride. But before that, clean your gear too. Most of the textile gear can be washed so that is easy, but refer to the care instruction to ensure. Leather cannot be washed so cleaning it can take a lot of time. First clean any dust off with a smooth brush, then use a cloth to get rid of remains. Then clean it further with clean cotton cloth if it cannot be washed. Further, use lukewarm water mixed with washing liquid, dip a clean cotton cloth in it, and get cleaning. First clean any dust off with a smooth brush, then use a cloth to get rid of remains. Then clean it further with clean cotton cloth dipped in leather cleaning fluid. Only use trusted and quality brands, do light strokes in one direction, and avoid oil based fluids. If you are using one use a little amount of fluid. Some go for other leather apparel. Do not hang dry, keep the gear in shadow and put it on some table or chair to get dry. The same goes for the motorcycle bags. All the textile bags can be washed, it is leather where you have to take time. Metal luggage is also easy to clean. Before cleaning empty the bag, remove all dust, lint, and anything else inside thoroughly and repeat it once again. Clean the exterior with clean cotton cloth. For cleaning leather, use the same process as leather apparel. To clean the metal-luggage use a microfiber cloth and washing-liquid water solution. This is a good time to clean and take care of your motorcycle, luggage bags, and apparel.
>>Read more
What is Web Hosting?

Web hosting is a service that allows organizations and individuals to post a website or web page on the Internet. A web host, or web hosting service provider, is a business that provides the technologies and services needed for the website or webpage to be viewed on the Internet. Websites are hosted or stored, on special computers called servers. When Internet users want to view your website, all they need to do is type your website address into their browser. Their computer will then connect to your server and your webpages will be delivered to them through the browser. Most web hosting companies require that you own your domain name in order to host with them. If you do not have a domain name, the web hosting companies will help you purchase one. The basic features of a web hosting plan include: Disk Space All web hosting accounts offer a certain amount of disk space that you can use to store your web files. It is recommended that you have some sort of estimates on what you need for various tasks – the amount of space you need for your emails, web files, databases, etc. By breaking down your usage, you can better estimate how much space you should go for. Bandwidth or Data Transfer Very often web hosts talk about bandwidth and data transfer as the same entity. However, they are in fact, different. Bandwidth is the amount of data that can be transferred at one time. Data transfer is the actual amount of data transferred. Think of it this way. If bandwidth were a tunnel, the bigger the tunnel the more cars can pass through it. Data transfer would then be the number of cars allowed to go through the tunnel in a given time period, say a month. The less bandwidth you have, the slower it takes your website to load, regardless of your visitor’s connection type. Visitors will have to wait their turn. The less data transfer you have, the more often you will find your website unavailable because you have reached the maximum amount of data allowed to be transferred. To determine what is sufficient, you need to take into consideration the size of your website and the number of visitors you have in a month’s time. Email Accounts Email accounts are a common feature of web hosting, especially if you are hosting a domain. There are three main types of email accounts: POP3, forwarding, and aliases. POP3 accounts are the traditional inboxes. You have space on the server to store your emails, and at the same time, you can use an email program to download your mail. Each login and password combination usually equates to one account. Forwarding mail accounts are useful if you are employing the service of another company to filter your emails for you. Rather than storing your emails on your mail server, emails are redirected to another email address. Aliases accounts are similar to forwarding mail accounts. Some hosts allow you to set up a catch-all alias, which is often used to collect emails sent to addresses not recognized by your mail server. FTP Access After you have created your web pages on your computer, you need to transfer those files to your web server. The files are transferred to the server by use of FTP. FTP is also the protocol of downloading your web files from the server to your computer, ie. backing up your website files.
>>Read more
Here’s How Online Roulette Can Take Full Advantage Of 5G

As one of the most important technological developments of the last two decades, the advent of the 5G network looks to shatter people’s understanding when it comes to both raw speed and device capability. This extends to all corners of mobile phones, be it on apps or in web browsers, and one major proponent for new technology is the online casino industry, and in particular, online roulette. Online roulette from the likes of Paddy Power has often been at the forefront of new web technology, especially given the nature of online casinos as a new addition to the Internet’s growing portfolio. They were there when HTML5 replaced its decades-old predecessor HTML4, which brought with it innovations such as the <canvas> element that gave way for designers to rotate and size objects, as well as allow them to create interesting and useful GUIs. Both functions have since become vital to the way that online roulette operates and as a result are now deemed to be second nature. What’s more, with the demise of Flash over the last few years, HTML5 has taken on increased importance and still remains key to any interactive sites’ operation. The technology associated with 5G, however, is expected to take online roulette to the next level. For instance, its headline change is that it offers 10x faster speeds than 4G, bringing with it up to 10-gig connectivity. This, combined with the lower latencies and a more stable connection, will help to make the overall experience of playing online roulette a whole lot better. A much more reliable connection can also help with having higher levels of concurrent users, which have traditionally caused sites to crash, be them online casinos or otherwise. Now that the network architecture is designed specifically with speed and stability in mind, this should lead to fewer complaints of sites dropping outright in the heat of play. A major innovation within online casinos, that specifically relates to roulette, is the rise of live dealers. With these, it brings the traditional casino experience to the comfort of people’s own homes, which makes things more convenient for everyone involved. It has been an innovation that online casinos have pioneered that has helped to usher in more live streams and interactive content across the Internet. More related to the advances of 5G however, having a reliable and speedier connection means that the experience with a live dealer will be seamless, but it also opens up another intriguing avenue. Websites across the Internet, as well as individual applications, have been taking advantage of the ever-growing popularity attached to virtual reality. With 5G set to usher in proper support for VR and AR, it could be something that online roulette can take advantage of. In particular, there has traditionally been an issue relating to the speed and overall efficiency of data usage when utilizing VR, as they need to render data as soon as the player makes a decision. However, with the potential adoption for online roulette, this isn’t necessarily an issue. There are some decisions to process, although they are administrative in terms of deciding which numbers and color to bet on. However, the use for VR in such circles is to improve the overall user experience and, by implementing VR, it helps to make it a lot more immersive. With the right execution and implementation, online roulette could set to face a major shift in the right direction thanks to 5G. As it has previously been one of the first segments of the Internet to make full use of key technology such as 5G, and its <canvas> element, it should only be a small move for online roulette to adopt 5G and give players a faster, sleeker, and more modern experience. Only time will tell if they can get it all right.
>>Read more

12 steps for locating a lost life insurance policy

Look for insurance related documents

Contact financial advisors

Review life insurance applications

Contact previous employers

Check bank statements

Check the mail

Review income tax returns

Contact state insurance departments

Check with the state’s Unclaimed Property Office

Contact a private search service

Like it? Share it with your friends!

Related Posts:

Discovering the Best Vacation Destinations in the Caribbean

Ski resorts Courchevel and Val Thorens

How to rent a boat in Lefkada, Greece

How To Make The Most Out Of Your Weekend Away In Copenhagen