How to Claim a Life Insurance Policy

find it? Try looking through old check books and old credit card statements for the insurer’s name. You should also contact the deceased’s employers to check if there was any life policy issued at the workplace. Look in security deposit boxes or other storage places used for important documents. If you still cannot find it, you may want to contact the American Council of Life Insurance (ACLI). For a small administrative fee they will search their databases to locate a policy.What happens if there is no claim made on a life insurance policy? If there is no claim made on a life insurance policy, the death benefits are turned over the state where it becomes “unclaimed property”. However, if the life policy was in force when the policyholder died, a claim can be made, even decades later.When will death benefits NOT be paid?If the policyholder has not paid premiums on a term life insurance policy, the policy may have “lapsed” in which case no claims can be entertained.If there is a fraud in the inception of the policy or fraud by substitution, the death benefits will not be paid out.Another common ground for denying claims to beneficiaries is “material misrepresentation”. This means that at the time of original application, application for reinstatement cases or application for late enrollment in a group case, false information was provided that, if fully and truthfully disclosed at that time, would have resulted in refusal of policy by the insurer, at least on