Insurance Department Will Help Find Delawareans' Missing Life Insurance Policies
By Jim Donovan
PHILADELPHIA (CBS) -- The Delaware Department of Insurance has set up a new service to help locate missing life insurance policies.
The Department will provide Delaware residents and their families with a free search service that can help locate missing life insurance policies or annuity contracts left behind by loved ones who have passed away.
"I'm happy that the Department has set up this new service to help Delawareans' locate lost insurance policies that were purchased in our state," said Commissioner Karen Weldin Stewart. "Our search will enable eligible persons to contact every life and annuity insurer licensed in Delaware in order to look for a lost policy or contract."
The service works like this: An executor, beneficiary or legal representative of a deceased resident or former resident of Delaware may file a search request with the Department of Insurance.
To submit a request, print out the Missing Life Insurance/Annuity Search Request Form on the DOI website.
The form should be filled out, then signed before a Notary Public. Be sure to attach a copy of the decedent's certified death certificate. Then place the documents in an envelope marked "Confidential" and mail it to the address printed on the form.
Note – The Department of Insurance does not guarantee that every requested policy will be found. Upon receipt of the request form, the Department will send the search request and any attachments to all Delaware-licensed life insurance companies for review.
An insurance company must process a policy and/or contract if they have information about a life insurance policy or annuity contract on the deceased person's life. The insurance company will contact the requestor directly if money is to be paid to them.
Call the Consumers Division at 1-800-282-8611 if you need additional information.
