When Your Client Can’t Find a Loved One’s Life Insurance Policy
January 29, 2020 by Ray Farmer
It’s unfortunately a scenario that is all too common. Your client unexpectedly loses her father and remembers that he had purchased a life insurance policy a number of years ago. But she can’t find it. Her father never told her the name of the insurer. He was old-school preferring to conduct business transactions by paper, so she knew there would not be any electronic records. She comes to you asking if there is anything you can do to help her locate the policy.
Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their loved ones’ policies or didn’t even know they existed.
As life insurance agents, your clients turn to you for advice. While most of your guidance revolves around coverage options and policy questions, when your client is dealing with the painful experience of losing a loved one, many reach out to their agents with questions about submitting claims on policies they don’t have.