Mike Causey
Guest Commentary
This may have happened to you, a family member or a friend. Someone passes away and the survivors are left wondering if the person had a life insurance policy. Perhaps they may have known that their loved one had a policy, but they’re unable to locate it.
Fortunately, we can help clear things up. We have a free service that can locate a life insurance policy if indeed your loved one had one.
This program works. Last year, the Department of Insurance’s Lost Life Insurance and Annuity Inquiry Service helped North Carolinians find $70.5 million in life insurance benefits. In 2023, the service found $65.9 million in life insurance benefits.
The service helps locate benefits from life insurance policies or annuity contracts purchased in North Carolina.
You can find the Lost Life Insurance and Annuity Inquiry Service on the Department of Insurance’s web page at www.ncdoi.gov. Click on the “Assistance/Complaints” tab and then click on the “Lost Life Insurance” tab. It’s the one with the magnifying glass/search icon.
After agreeing to the terms and conditions, you will be asked to provide some information about yourself and the deceased.
If you’re having trouble or need assistance, you can call our toll-free number at 855-408-1212 to speak to one of our consumer specialists. Please call between 8 a.m. and 5 p.m. weekdays.
People purchase life insurance for several reasons. They may want to:
— Allow a surviving spouse to continue to have a comfortable standard of living.
— Make retirement more comfortable.
— Provide for a child’s education.
— Pay for funeral expenses.
— Pay for medical bills.
— Pay off a mortgage so surviving family members don’t have to worry about having a roof over their head.
— Pay off other outstanding debts.
Whatever the reason for taking out a life insurance policy, beneficiaries expect to be able to receive those benefits when a loved one dies.
However, the life insurance policy may have been taken out years ago, or perhaps even decades ago. Families may have moved over the years. The policy may have been misplaced, or even accidentally thrown away. Searching through desk drawers or filing cabinets may yield no results.
Keep our toll-free number handy in case you have any other questions or issues regarding insurance.
Mike Causey is the North Carolina Insurance Commissioner.