Car Insurance in Oklahoma

Reader’s Question:

My parents both passed away when I still in college. Is there anyway that I would know if they left any insurance in Oklahoma? As far as I am concerned, I cannot recall any documents they left before they died. But I know they mentioned of having one. How will I find out?

Kevin

Tulsa, OK

Fortunately, there is an available service for your problem. It will cost you around $75 but it might be worth it. The company is called MIB Solutions and you can find their website here: http://www.mib.com/html/lost-life-insurance.html

If you prefer to do old school and spare $75, then what you can do is to check your parents’ papers and address/telephone books for any clues of life insurance policies and insurance agents. You need to contact each and every life insurance company with which they might have a policy, and verify if it is still in force.

Most insurance companies would send premium notices annually. It might be wise for you to check for any of these notices a year after your parents’ death. For paid up policies, life insurance companies normally would not send any notice of payments but rather annual notices regarding the status of the policy or notice of dividend.

Canceled checks and bank books of your parents for the last few years would also help you dig out information whether they paid for life insurance premiums. Income tax returns for the past 2 years of your parents would also give you information on interest expenses paid to the life insurance companies.

You can also try to check with their latest and previous places of employment for any employee benefits or you may opt to check with the union welfare office.

Try to check with the unclaimed property office of your state to find out if there is any unclaimed money from the life insurance policies which have been turned over. This is how life insurance policies process unclaimed money if they do not find the rightful owner.