On Friday, May 19, the Life Insurance and Annuities (A) Committee of the National Association of Insurance Commissioners (NAIC) informally agreed to discuss issues that arose during the creation and execution of the lost life insurance policy search systems. Representatives from New York State mentioned that in working with the NAIC to develop their own system, they encounter problems that other states should be aware of as they are implementing their own systems to work in conjunction with the NAIC’s efforts.
The Life Insurance Policy Locator Service was created by the NAIC to help consumers locate benefits from life insurance policies and annuity contracts. Anyone who believes they are beneficiaries, executors, or legal representatives of a deceased person many submit a search request form online through the NAIC’s Life Insurance Policy Locator Service. The free consumer service was launched in 2016, and is the first phase in efforts to create a national search system for consumers.
NAIC Policy Locator: https://eapps.naic.org/life-policy-locator/#/welcomeBack to All Industry Updates