Over the years, you’ve been dutifully after your family safe was gone, hoping to pay life insurance premiums. But make sure loved ones to enjoy these benefits in the future requires careful preparation today. It is especially true of sweeping survey is to raise the beneficiaries of life insurance if you have all the money, their problems are due to the
In the insurance regulators in many countries are reviewing life insurance companies may fail to pay death compensation to the beneficiary, even in cases where the company knows death of the insured. Regulators also questioned whether the company failed the requirements of the law under unclaimed property unclaimed death benefits to the country.
Industry representatives said that the insurance company holds the purpose of their transactions. “The truth is, life insurance companies paid an average of $ 1.6 one billion a day to policyholders, beneficiaries and retirees, clearly shows that life insurance companies are fulfilling their commitments,” Hui Hedo Fineman, a spokesman for the American Council of Life Insurance Company said.
Policy. You can improve the likelihood of your insurance company and loved ones can find each other, when you’re gone. A place to start: the beginning of his speech. Although many people are reluctant to tell their families, they have their own life insurance, “I suggest that the insured is not left in the dark beneficiarie,” Steven Weisbart, senior vice president of the Insurance Information Institute, said, “If you do not tell them they will not get anything, and the whole point of insurance down the tube. ”
When naming beneficiaries, to social security number, address and relationship to you to be specific, Weisbart said updated information, if beneficiary to change its name, or if you change the beneficiary.
To retain the insurance company informed of any changes in your mailing address and telephone number, and requested a statement of the annual policy statement can help you keep the name of the company changed the trajectory headquarters or contact information – and help your the company keeps track of
People who no longer owe premiums – perhaps becau se heLimited their policy was purchased in single premium payment or the number – can miss. “A man can stop paying premiums and, after a few years, the company does not know the people there,” Joseph Belth, Insurance Forum editor of the magazine said.
To keep a policy in your country and the other copy with relatives, lawyers or accountants. All compensation for death compiled, may be available to your beneficiaries, including a list of previous employers, professional associations, and credit card accounts.
Beneficiaries. You may need to do some detective work to track all the benefits you owe. If you have the policy itself, check the application, it should pay attention to. The application should list all the other policies of the time it has happened.
If you think you are the beneficiary of a policy, but there is little information, state insurance departments may help. You can get contact information of these departments by the National Association of Insurance Commissioners ‘life insurance company positioning system’ of. Insurance sector insurance companies should have a record of mergers and name changes, they can help identify the insurance policy might have written. You can then contact those insurance companies.
May have been turned over to the state as unclaimed property interests, check MissingMoney.com. Also, check with the National Association of Unclaimed Property Administrators (www.unclaimed.org).
If you’ve run out of e-commerce source of information FRE, consider the policy locator service solutions MIB (www.policylocator.com). For $ 75 for the life insurance application can be traced back to the contact information provided in December 1996 to accept the insurance company’s search service from various applications. You can then contact those companies and ask any written policy on the deceased.