Executor’s Toolbox: Life Insurance Locator Services

This is the first of a series of articles on resources available to Executors and family members of a deceased individual which will make the process of wrapping up the estate easier. Today – the Life Insurance Locator Services.

The National Association of Insurance Commissioners (“NAIC”) has a central database called the “Life Insurance Policy Locator Service” which can assist consumers in locating life insurance policies and annuity contracts of a deceased family member or close relationship. When a request is received, the NAIC will:

  1. Ask participating companies to search their records to determine whether they have a life insurance or annuity contract in the name of the decedent; and
  2. Ask participating companies that have policy information to respond to the requester if the requester is the designated beneficiary or is authorized to receive information.

The NAIC has an easily navigable website for this service and should be used by anyone who may be helping to settle the estate of a loved one.