Does my illiterate father have a life insurance policy?
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UPDATED: Dec 24, 2011
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Insurance Question from Sebring, FL
Asked on 12/24/2011
Does my illiterate father have a life insurance policy? He has been married since 94. His wife put everything in her own name and threw him out Dec. 2011. She filed restraining order and will not talk to me. Had a male call AARP and cancel his insurance. We do not know what he has in place or any accounts. We don't know how to find anything. He has no idea.
Answer given on December 27, 2011
The best way to find a life insurance policy is to go back through cancelled checks to see if there were any premiums payments paid. Did your father and his estranged wife have joint back accounts? If so, you can have him request copies of bank statements for the pass year or two to see if any premiums where paid to a life insurance company. Does he remember signing a life application or taking a medical exam? This may point to a life policy existing. You can also check a company called MIB (Medical Index Bureau). They perform background checks as well as medical records checks for insurance companies for pending life applications. For a small fee, they can let you know if a request from a life insurer was made. This does not mean that a life policy exist. However, it will tell you if an application was filed and then you can call the life company to see if a indeed does policy exist. Read our article How to Find a Missing Life Insurance Policy to find other advice on locating a life insurance.
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