Insurance Center

Uncle Sid died a couple of months ago at a ripe old age and named you as beneficiary in his life insurance policy. The problem is that you cannot find the life insurance policy. You have no idea which insurance company wrote it.

If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit?

If you're a beneficiary and you find the lost life insurance policy within six months to a year after the insured dies, claiming the death benefit should be trouble-free.

First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you'll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.

If the insured had a permanent life policy, you'll receive the money if the death occurred while the policy was "in force," meaning all premium payments were made up until the time of death. If the death was a while ago, you'll receive the benefit with interest from the date of death.

If the life insurance policy lapsed, meaning the insured stopped making premium payments before he died, there's a chance you might get nothing.