Prevent Missing Life Insurance and Unclaimed Life Insurance

When you have life insurance are you sure that your beneficiaries will find it when the time comes. There is no way of you knowing if your families members will, with certainty, find the policy when you pass away. Missing life insurance is a huge problem and is recognized only when it is too late. It is not possible to wake you up and ask which company you bought it from. So taking preventative steps ahead of time is necessary. The best thing to do is to protect that major investment that you have been saving up for with a few simple steps preventing any unclaimed insurance.
You can write it down, copy it several times and give it to your beneficiaries. This would help them keep good records. However the problem with this is that people usually loose this information and it is not the best way of guaranteeing they have it. It could be they misplace it in a move, or just simply forget where they put it. You can also give the information to an attorney and have him/her pass it on to your family when the time comes. However, this is also not flawless. The attorney can move and no longer be reachable. And if you think about it, it is just as simple and possible to misplace the attorney’s number as it is the insurance company name and number. The other alternative and probably the best is to store the information with a company that will keep it on a central database. In these times of electronic communications individuals buying life insurance over the internet is increasing every day. With this happening the use of agents are decreasing which simply means no one will contact anyone for updates. Keeping the company name on a central database that anyone can check from all over the world only makes sense. Make sure that the central database is free to register and that it is accessible to search when the time comes. They should never ask you for any proprietary information, which includes your social security number. This way if the database were to ever be penetrated your identity is safe
There has to be a central database to prevent missing life insurance. This central database should be free, offered by all the insurance companies; however, we all know that this will never happen so looking at a private company may be the next best thing. Mostly all the problems disappear once the person finds the life insurance policy as they can now make the claim and they earn their money after filling out the necessary forms and presenting the necessary certificates, in case there are any to be presented. You should feel confident knowing that your information is protected. If someone where to find out the company name you have life insurance with there is nothing they can do about it. The beneficiary is the only irrevocable judgment a court cannot reverse. So your life insurance will go to the person that you have assigned it to.
As you can tell, there are a few steps that one can take to prevent missing and unclaimed life insurance. With a little preparation you can feel more secure your family will be taken care of.

Until next time Michael Hartmann

Always remember our Mission Statement

“To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance”

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