Missing or Lost Life Insurance Policies.
Unfortunately it’s not an uncommon story; someone pays the required premiums on a life insurance policy for years and neglects, or forgets, to give the policy, or any information about the policy, to the intended beneficiary. The insured person passes, the policy documents can’t be found, if the beneficiary even knows about it, and the insurance money is never paid out. And those unpaid life insurance dollars run into the billions!
If you think that this is not happening, and you are the beneficiary on a loved one’s life insurance policy, just ask yourself these few simple questions:
1. Do you know the details of the policy?
2. Do you know the whereabouts of the policy?
3. If something happened today, would you know where to find the details?
If you answered, “no,” to any of these questions you’ve got big gaps in your knowledge which could lead to a real financial tragedy.
Further, if you even suspect that you may be a beneficiary, get the details now. Waiting… Continue reading