Beneficiaries Of Lost Life Insurance Policies Can Really Use the Money

Hello All,

It is just a shame that money owed to some beneficiaries of lost life insurance policies never get to them during their lifetimes. I spoke with some representatives of life insurance companies, to see how many, on a daily basis, get phone calls from the public, asking them to search their database for lost life insurance policies. I had one company say 100’s a day. I had another company tell me 1000’s a day and they even elaborated that it was a total waste of the consumer’s time as well as resources and man power of his company. He said that they will never find it if they do not know which company their loved one bought it from. Well, I took this opportunity to explain the need of a central life insurance database to him; telling him that it is a safe and a much needed service. He listened to me for around 10 minutes while I explained the many benefits a central life insurance database could have to his life insurance customers. Even with him telling me that it was a waste of time for anyone calling his company to search for a lost life insurance policy, he did not want anything to do with the thought of a life insurance database. He flatly told me that he did not feel a life insurance database was a benefit to his customers.

Now as a life insurance agent myself, I took offense to this comment. Isn’t it the responsibility of the life insurance agent (regardless of the company they work for) to do what is best for the customer? Don’t you think that registering anyone with life insurance on a central database so their beneficiaries can locate the company name that holds their life insurance policy is the best thing for the customer? Well I do. Not only does a database allow an individual to register the company name they have life insurance with, it allows the beneficiary with certainty to find the policy you have in place. All an individual needs, to find a life insurance policy, is the company name. Since there are over 2000 life insurance companies in the United States alone, having the company name on a central database will solve a major problem that gets recognized only when it is too late; lost life insurance policies.

FindYourPolicy.com and its growing family would like to wish everyone a Happy and Safe Holiday Season.

Until next time,
Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

Happy Holiday from FindYourPolicy.com

Hello All,
http://www.findyourpolicy.com/
We have had quite the year. From the start of our service till now, we have had a great response. The New Year looks like another that will be exciting with more Agents and Agencies joining our network of supporters. The market is definitley wanting to know more about who we are and what we do. The benefits to everyone and anyone with Life Insurance is definitely amazing. Since we have had our service FREE we have had many new members that recognize the need. Just knowing that their information can be located in a central database that is secure, safe and easy to navigate, makes them all feel comfortable that their beneficiaries will never loose their information.

Protect your family and loved ones. Make sure that they find your Life Insurance when the time comes.

FindYourPolicy.com and its growing family would like to wish everyone a Happy and Safe Holiday Season.

Until next time,
Michael Hartmann http://www.findyourpolicy.com/

Always remember our Mission Statement

“TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE”

Register Your Life Insurance on a Database to Prevent Loss.

Hello All,

We have been very busy in the past few weeks figuring out how we can really help the people get through this time of financial burden. As the market goes down almost everyday with little confidence of it going up (at least in the short term) we feel that it is now even more important to have Life Insurance. The risk reward for life insurance cannot be beaten in any market situation. What I mean by this, is for the little amount of monthly premiums one must pay to get the return of the death benefit cannot be guaranteed in any stock purchase. Look what has been happening. Individuals have been losing their nest egg daily as the market falls and they no longer can say they do not need life insurance because they have enough saved up.

It has been our mission to find a way to secure and protect the individuals from losing track of their Life Insurance. We have now done it......FREE.
By offering our service for free there is no reason why anyone will lose track of their life insurance and not have it paid out. There will no longer be individuals that will be hurting financially because they could not find their loved ones life insurance. Think about the devestation that you will be preventing. It takes no longer then 1 minutes to register http://www.findyourpolicy.com/ and no credit card is required.
We are doing this specifically to protect everyone with life insurance. You have taken that extra step to protect your family with life insurance and now go that extra mile and assure that they will always find it when the time comes.
All you have to do is store the company name that you have life insurance with, which will give your loved ones a direction on where to start looking.
I encourage everyone with life insurance to go to http://www.findyourpolicy.com/ and register for FREE. Secure that your family will be taken care of when the time comes. They will love you for it.

Until next time
Michael Hartmann

Our Mission Statement:

"TO BE THE BEST IN SERVING OUR MEMBERS BY PROVIDING PEACE OF MIND THAT THEIR BENEFICIARIES RECEIVE THEIR INHERITANCE"

Insurance Regulators know it is a problem

Hello All,
Regulators know it is a problem. What they are doing about it, is not really something that is good for the consumer of life insurance. The government really wants to help......but are they.

http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.insuranceregulatorylaw.com%2F2011%2F12%2Fstandard-operating-practice-in-life_07.html%23.TvDyuo3ZBXI.twitter&h=YAQGziyilAQGmTKajgWpz_xmFp_lXJ9A2Ubt-Ou2PzZ4gYg

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Using technology to guarantee payouts.

Hello All,

The use of the internet can hinder some and help others. I personally feel that the internet can do great things for communication, learning and getting questions answered faster than ever before. It also helps to store information for years to come guaranteeing you can find answers when the time comes. That is what FindYourPolicy.com is all about. The old way is no longer working, it's time for a new method.

http://www.lifehealthpro.com/2011/10/07/agent-tries-to-supplement-the-shoebox-in-the-close?t=life-products&page=3

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

The only thing you have to do to Guarantee payouts.

Hello All,
I constantly read threads, blogs and articles about what you should do to prevent your life insurance policy from not being paid to your beneficiaries. The main focus is to make sure your beneficiaries know the company name by printing it out and giving to them or telling the insurance companies of all address changes when they occur.
There is only one solution that will always work and will Guarantee with certainty your beneficiaries will always find the life insurance policies that you have. It is to register your life insurance policy on a Central Life Insurance Database.
FindYourPolicy.com is that database. Don't be fooled by all the people that tell you different. Writing it down and giving it to your family is great, however, if it was so good, there would not be any beneficiaries looking for their loved ones policies and there are. There are so many that the government has stepped in and is forcing insurance companies to do more to look for the beneficiaries. And we will preach everyday that there is one solution that solves this whole problem. Register it on a central database and FindYourPolicy.com is that database. Moving forward there is no reason for lost life insurance....period.

Tell your agent to register you, it's free.

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Tell us your story....

Hello Everyone,

FindYourPolicy.com is the only Database that registers Life Insurance company names. If someone cannot find the Life Insurance of a loved one there is no National or State wide database that you can go to for help.
How could our service have helped you? We feel that it would take away the fear of not having your legacy passed on to your loved ones.

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Prevent Lost Life Insurance

Hello All,

We hear everyday of someone looking for their loved ones life insurance. The insurance companies are now being asked to compare their life clients to the Death Masters File. However, is this enough? What will they do if they do find out the insured has passed away but now they cannot locate the beneficiary? How long and to what length will they go to locate them. We are basically leaving this in the hands of the life insurance companies. Let's assist them and also make the auditors feel good about the steps they are taking.
You should now rant and rave about a central life insurance database. Tell all your freinds, family and especially your life insurance company. If they truly want to help the consumer, they should register all their current and future clients on FindYourPolicy.com
Here is another article that explains the extent the government is going to, as they also realize the problem. However, the insurance companies say they are doing their best and I do believe them. I also beleive that we must take the responsibility away from the insurance companies of looking for the beneficiaries and give that responsibility to the beneficiaries to look for the life insurance company. It is as simple as registering for free on FindYourPolicy.com . Take a look at this article and make a decision for yourself.
http://insurancetech.com/regulation/231902367?at=validate

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance...Procrastination

Hello All,

Procrastination will not help your family when you have passed away. As a matter of fact, we cannot wake you up and ask where you bought that life insurance policy. Once forgotten never found. I have personally been involved with friends that took our service for granted and said they will get around to it. Getting around to it, does not take more than 1 minute to register the company name they have life insurance with. If you only knew how many individuals are out there that wished they could find the only thing that could help them pay for a funeral, pay for the mortgage, pay for food.....If they only registered the accidental death life insurance they got for free from a credit card or that policy they received from their parents when they took it out. It is way to simple to forget and not remember where you put the paperwork after you moved. FindYourPolicy.com never forgets and it free to register.
Check out this article. It explains again why a central life insurance database is needed. And FindYourPolicy.com is just that database.
http://www.foxbusiness.com/personal-finance/2011/06/20/hide-and-seek-why-theres-no-national-database-life-insurance-policies/

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance

Hello All,

It is said that over 25% of life insurance policies go unclaimed. There really is no way of knowing if this number is correct or not. Unless the insurance companies call every beneficiary and ask if the insured person has passed away, we will never know. It is up to the insured person to register on a central life insurance database and guarantee their beneficiaries will never be left guessing about their life insurance. It is simple and so effective and most importantly free to register. Think about all the things that could go wrong. FindYourPolicy.com is Insurance on your Insurance. You can forget but FindYourPolicy will not...
www.findyourpolicy.com

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

New Attorney General Extends Probe Into Life Insurance Company Beneficiary Payouts

Hello All,

We always seem to come across articles that scream "We need a central life insurance database". FindYourPolicy.com is just that database. It is free and very needed. Enjoy this article

http://finance.yahoo.com/news/New-Attorney-General-Extends-prnews-3912815770.html?x=0&.v=1

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Preventing Lost Life Insurance

Hello All,

It has come to my attention there are many ways of advertising a service. Twitter, Facebook and LinkedIn are new venues for me to advertise and it's free to do so. We have started a twitter account @findurpolicy and we do have a facebook account FindYourPolicy.com and I have a LinkedIn profile. Do all these actually work? I have to admit that it was hard to accept at first, however, I truly believe since we first started with the social network scene we have met amazing people and great advocates of FindYourPolicy.com
We now have more agents than ever before contacting us about offering FindYourPolicy to their life insurance clients. We freely send them our Flyer (PDF format) so they can insert it into the life insurance paperwork or simply hand it out.
If you are interested in our Flyer for your clients, or have any questions about how our service works and how it can benefit your life clients, please feel free to contact me directly.

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Average of 60% of assets a year go unclaimed.....

According to the Life Insurance Selling, they write that an average of 60% of assets(which includes life insurance) goes unclaimed every year. The solution to this problem is a life insurance database which FindYourPolicy.com is. It is free security that prevents your family members from ever loosing your information. Interesting article:
http://www.lifehealthpro.com/2011/10/01/mitigate-the-collateral-unclaimed-property-damage

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance.....

The thought of not knowing if your beneficiaries actually do know where all your financial information, like life insurance is located never crosses most peoples mind. Throughout the years we have received calls and emails of individuals that are finding this out late.
It takes three minutes to register the company name that you have life insurance with and even faster to forget about it. I always like to tell people..."You can forget but FindYourPolicy.com will NOT"

If you are an agent, please email us for our new flyer (in PDF format) you can print out, distribute and give to your life insurance clients. Just informing them will give you a client for life, telling them you not only sold them the life insurance but you are guaranteeing them, their beneficiaries will find it.

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Can the Courts Change Your Life Insurance Beneficiary

Can the court change a life insurance beneficiary named on the policy?

There have been certain cases in which the court didchange a life insurance beneficiary named on the policy, but it always included a legal battle of sorts and some valid reasons as to why the beneficiary should be changed. Further, this decision cannot be made by the life insurance company. It always must be a court-based decision to change the beneficiary if the insured has died.

But let’s not get ahead of ourselves. Let’s first start with defining the term “beneficiary”. The primary beneficiary is defined as the person who will receive the payouts from the life insurance when the insured passes away. If for some reason the primary beneficiary dies before the insured, the contingent beneficiary receives the life insurance benefits. And for most purposes, a beneficiary can be changed by the insured filling out the necessary paperwork required by the insurance company.

There are two general types of beneficiaries. The first is referred to as a revocable beneficiary, which means that you have the ability to change them in the future by simply filling out the necessary paperwork with the insurance company as previously discussed. The second is called an irrevocable beneficiary. This is a beneficiary that cannot be changed unless the beneficiary actually legally agrees to the change. If the irrevocable beneficiary refuses to sign the insurance company’s necessary paperwork, they will stay on the policy and a court will most likely be unable to change the conditions.

The courts typically end up getting involved when the insured dies and there are questions regarding to the named beneficiaries. These are certain situations which tend to prompt “gray areas” which can quickly escalate into legal battles. For instance, when marriages, divorces, births or even deaths happen very near to the insured’s death, this can create a question of if those new individuals should have been added/removed from the policy as a beneficiary.

These types of situation create the perfect storm for a legal battle to prove that someone should have been added or removed a life insurance policy as a beneficiary prior to the insured’s death. Further, if the insured is very ill and makes significant changes to the beneficiary very close to the end of their life, this can also create a situation in which there is a legal question of whether the insured was of sound mind at the time the decisions were made. Another potential scenario is when the family members of the insured do not agree with the beneficiary choices made, and this can result in a court case to be changed as well.

All of these situations end up being a warning for those that are going through the process of naming beneficiaries for a life insurance policy. Here are a few tips to keep in mind while deciding who and how many beneficiaries to name on your life insurance policy:
First off, if you are naming a minor beneficiary, keep in mind that you must also appoint a guardian to help manage the benefits until the minor beneficiary reaches 18. There should be thoughtful consideration into whom that guardian will be, as they will possess much of the power over the intended benefits.

Second, make sure to clearly state full names of the intended beneficiaries. Further, it is wise to include exact percentages or amounts that you would like them to receive. The less ambiguity, the less chance this will end up getting questioned or taken to court.

It is a wise decision to consider naming contingent beneficiaries to the policy. As previously defined, these are contingent beneficiaries that will only receive monetary payouts if the primary beneficiary dies before the insured. This way it will protect your benefits if the primary beneficiaries are not able to receive the payouts. There is also a final layer of protection called tertiary beneficiaries, which assumes that if the primary and contingent beneficiaries die before the insured, the tertiary beneficiary will receive the proceeds.

As stated before, the court does give options to someone that is looking to change the beneficiary on a life insurance policy for a multitude of reasons. However, it is always best to take precautions, plan ahead of time, and update your policy on a regular basis to avoid putting your loved ones through court room confrontations.

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

National Underwriters Life and Health Magazine

Hello All,

We have been recently featured in the popular National Underwriters Life and Health Magazine. A great article that asks the question, "Why are insurance companies not using us?"
Help us get out there. Protect yourself, your families and your clients from loss. Register for free on FindYourPolicy.com and you will never have to worry about loss.

http://www.lifehealthpro.com/2011/10/07/agent-tries-to-supplement-the-shoebox-in-the-close?t=life-products

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance

Hello All,

I would like to thank Rich Vasquez from Premium Share LLC  www.premiumshare.com for finding this article on lost life insurance. It mentions the stress an individual goes through when they cannot find the policy they paid for. This happens all the time and should not be taken for granted. FindYourPolicy.com solves this problem for free. Please seriously concider our service when buying or selling life insurance policies to an individual.
http://www.foxbusiness.com/personal-finance/2011/10/06/how-to-locate-old-life-insurance-policy/

Until next time Michael Hartmann
www.findyourpolicy.com
@findurpolicy

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Great Added Value Benefit to any Life Insurance sale.

Everyone selling life insurance is always looking for a better way to connect with their clients. "How can we make them feel like I am special?" What can I do to show them that I really care about them and not just in it for the money?"
FindYourPolicy.com answers a question asked by so many for so many years. "How do I guarantee that my family will find, remember, store it a proper place, the company I have life insurance with?"
Think about this sale for a moment. You will be telling your client that you not only will sell them life insurance but you will also take care of their family when they are gone by making sure with certainty they will find the life insurance company that you sold them.
FindYourPolicy.com is a free Added Value Benefit for anyone that sells life insurance. Take a look at our site http://www.findyourpolicy.com and introduce your clients to it or simply register them yourself, guaranteeing their family will never lose the information. Our service is great for beneficiaries that do not live close to the insured. How would they know where to look. How would they know to contact you the agent. Direct them in the proper direction. Put your name and number down along with the company name.
Prevent loss, protect your clients with this FREE Added Value Benefit.


Until next time Michael Hartmann
www.findyourpolicy.com


Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance? Prevent it.

While answering the daily phone calls that FindYourPolicy.com receives we find out there are many individuals that are in need of assistance locating policies. It happens everyday and all the time. Some are not sure and some people are certain there is a policy. This following article is an example of what can happen.
http://www.nj.com/business/index.ssf/2010/05/keep_relatives_informed_of_whe.html


Until next time Michael Hartmann
www.findyourpolicy.com


Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Online Life Insurance

The way the industry is changing. As a life insurance agent myself, I constantly explain to individuals looking for life insurance how important it is to have an agent. We will explain and answer all questions that you might have. We will assist you with Universal Life or Term insurance and show the benefits to both. And as much as I explain and show, I have come to the realization that some individuals are only interested in one thing...."How much does it cost?"
Well, I believe that if the curve continues to go the internet way, there is even more of an importance for a central database that is easily accessible. FindYourPolicy.com is just that database.
If you buy Life Insurance over the internet, there is no one you can contact when the time comes. I have explained numberous times how keeping paperwork has it's flaw and if lost, your beneficiaries will be lost also. Make sure your beneficiaries, whereever they are in the world, know who has your life insurance policy.

Until next time Michael Hartmann
www.findyourpolicy.com


Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Prevent Lost Life Insurance

We receive calls from people all across the country with the devestating news a loved one had passed away. When this happens quickly and unexpected, communication of location of assets are rarely discussed. If you do not know the company name of the life insurance or annuity your loved one had it could sometimes be next to impossible to find. Why even worry about something like that. FindYourPolicy.com is a free service and it is secure. It takes 3 minutes to register and guarantee your beneficiaries will never misplace the information.
Keep in mind the insurance companies (at the present time)are doing their best to find you. However, why give them the responsibility to find you when the best thing to have is a central database where you can proactively seek them out.

http://www.lifeandhealthinsurancenews.com/News/2011/7/Pages/Unclaimed-Property-NCOIL-Panel-Backs-Model-Changes.aspx?k=unclaimed

Tell all your friends, family, loved ones about FindYourPolicy.com and help everyone feel confident that your life insurance benefits will be located by your loved ones.

Until next time Michael Hartmann
www.findyourpolicy.com


Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance

Lost life insurance is not something anyone thinks about. You can always say "my wife knows where everything is." However, what if you and your wife pass away in a car accident?

FindYourPolicy.com is here to cover the "What ifs." and there are many of them. I will list a few in the next few blogs.

Take a look at FindYourPolicy.com and make sure that your family is taken care of when you are gone. You have gone through the process of getting life insurance, now guarantee your loved ones will find it when the time comes.

Register, its FREE.

Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance, It Pays to be Proactive as a Consumer

On the heels of the recent investigation from the Insurance Commissioner of California on MetLife’s practices regarding payment of death benefits; I am writing this article to explain how important it is to prevent lost life insurance by keeping your beneficiaries informed of where your life insurance information is located.
To take care of your family with life insurance is a great thing to do. To allow your beneficiaries to be proactive if they cannot find the information is even better. There have recently been inquiries into the practices of some large insurance companies on how they pay out on death benefits of life insurance.
Unless the insurance companies call every beneficiary when an insured person stops paying their premiums there is no way of finding out if the person has passed away or simply does not want the policy anymore.
To the credit of the insurance companies, they really are not doing anything wrong. They simply do not proactively and aggressively try to find the reason an individual stopped paying their premiums. Due to this, many life insurance policies can go lost or unclaimed by the beneficiaries.
There has to be a central database where an individual can go to and find, with certainty, their loved ones life insurance policy. This database should be used by all life insurance companies and promoted to all agents and brokers. They should emphasize the importance keeping good records and their beneficiaries informed. This would not only make the consumer of life insurance comfortable knowing their beneficiaries will receive their death benefits, but it will also bring confidence back to the insurance industry showing good faith that they are truly concerned with their customers.

FindYourPolicy.com is a central database where an individual can register the company name they have life insurance with, and it’s free. You can guarantee your family members receive the benefits you worked so hard to give them. Tell your insurance company and your agent about this very important website. It is a consumer protection service they will not regret promoting.
Think about it. As important as life insurance is, don’t you think it is just as important to make sure your family members find it when the time comes.


Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Life Insurance Is Important for Young Families Too

When you are young and take out life insurance, it is so important to prevent lost life insurance. Register on a life insurance central database to make sure all your years of premiums do not go unclaimed.
A 2004 study showed that up to 75% of those that died between 35-years-old to 55-years-old left their significant other without life insurance coverage that was adequate.1 This statistic might be attributed to the fact that many don't like to think about an early death, much less the surviving family members being forced out of the home and liquidating all of the personal assets to afford the everyday cost of living.
The possibility of an early death, and the financial hardship that an early death might impose on other family members, is something that should never be ignored. Life insurance is a vital tool to prevent such potential circumstances from becoming a reality. The well-being and monetary needs of the surviving family members should be considered when choosing a type of life insurance.
How to Choose the Right Life Insurance Coverage
The right decision is most always synonymous with an informed decision. Before you choose any specific policy or option, make sure that you understand what each type of life insurance policy will cover and cost. Then, and only then, can you make a well-informed decision about what coverage will best suit your specific need and circumstance.
Term and permanent life insurance are two common types of life insurance that you might want to consider. Term life insurance is essentially a temporary form of life insurance. It will provide coverage and pay benefits only during a designated or preset time period. On the other hand, permanent life insurance will provide coverage during the entire lifetime of the individual. It can also have the benefit of accruing a cash value over time. However, for the coverage to remain valid, premiums must be paid on time. There are benefits and drawbacks to each type of life insurance; it really depends on the specific needs of the family.
You will also want to consider how much life insurance will cover the needs of remaining family members. Number of family members, debt, future debt, and ability to afford the various life insurance premiums will all play a role in how much life insurance coverage is best.
It can be beneficial to make an outline of what your present monetary obligations and needs are and a prediction of what those needs and obligations will be in 5, 10,15, 20, plus years down the road. By combining this information with your total household income, you can determine the best amount of life insurance coverage. At the very least, you should make a list of recurring monetary obligations - mortgage, student loan, vehicle loan, credit card debt, etc… However, including future obligations, such as a child's college tuition, will give you the most accurate estimate on how much life insurance coverage you should purchase.
Be Prepared
Financial solvency for young families can be ensured with a life insurance plan. However, even the best laid plan can become dated as life changes. So, part of being prepared also includes storing this information in an area to be found. Prevent lost or misplaced life insurance and register the company name on a central database for life insurance.

1) National Association of Insurance and Financial Advisors (NAIFA) 2004


I hope you enjoyed the excerpt from one of our past newsletters.

Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance Company Found

Your brother just passed away and you have a life insurance policy in your hands. It is giving you some comfort that he did tell you about it just before he passed away; however, the phone numbers on the policy are wrong, the address is no longer available and the company is no longer in business. You are now lost. Where do you go? Who do you call? What are your options?

According to law an insurance company cannot just close its doors and walk away. It must be taken over by another insurance company or by the government. Once in the hands of the government they determine the situation of the company and reassign it to another life insurance company.

The only problem with that is when company “A” takes over company “B’ they can be very picky. They do not have to take all policies and assets of a company can be distributed to not only one company but several. Also, the companies only take over active policies. For example, if you had a term policy with company ‘B’ and the insured person passed away during that term the beneficiaries would be eligible for the death benefit. However; if it was, for example, a 10 year term policy and it ran its course before company “A” bought out company “B”, company “A” has no obligation to take it over. So it would be lost.

It is so important to first of all, keep all your life insurance information on a central database so it can be claimed quickly. With all the mergers and takeovers these days you will be glad your beneficiaries will have a central database to search.

It is also good to know how to find out what company took over the old company. There are services that do this for you. Now it is very important to know, no one can guarantee the new company has possession of your life insurance policy, but they should guarantee the company name they give you has taken over the old one you are looking for.

Prevent lost life insurance and guarantee your beneficiaries will find it when the time comes. Claim it quickly so you will not be part of the merger/ takeover shuffle.

Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Prevent Missing Life Insurance and Unclaimed Life Insurance

When you have life insurance are you sure that your beneficiaries will find it when the time comes. There is no way of you knowing if your families members will, with certainty, find the policy when you pass away. Missing life insurance is a huge problem and is recognized only when it is too late. It is not possible to wake you up and ask which company you bought it from. So taking preventative steps ahead of time is necessary. The best thing to do is to protect that major investment that you have been saving up for with a few simple steps preventing any unclaimed insurance.
You can write it down, copy it several times and give it to your beneficiaries. This would help them keep good records. However the problem with this is that people usually loose this information and it is not the best way of guaranteeing they have it. It could be they misplace it in a move, or just simply forget where they put it. You can also give the information to an attorney and have him/her pass it on to your family when the time comes. However, this is also not flawless. The attorney can move and no longer be reachable. And if you think about it, it is just as simple and possible to misplace the attorney’s number as it is the insurance company name and number. The other alternative and probably the best is to store the information with a company that will keep it on a central database. In these times of electronic communications individuals buying life insurance over the internet is increasing every day. With this happening the use of agents are decreasing which simply means no one will contact anyone for updates. Keeping the company name on a central database that anyone can check from all over the world only makes sense. Make sure that the central database is free to register and that it is accessible to search when the time comes. They should never ask you for any proprietary information, which includes your social security number. This way if the database were to ever be penetrated your identity is safe
There has to be a central database to prevent missing life insurance. This central database should be free, offered by all the insurance companies; however, we all know that this will never happen so looking at a private company may be the next best thing. Mostly all the problems disappear once the person finds the life insurance policy as they can now make the claim and they earn their money after filling out the necessary forms and presenting the necessary certificates, in case there are any to be presented. You should feel confident knowing that your information is protected. If someone where to find out the company name you have life insurance with there is nothing they can do about it. The beneficiary is the only irrevocable judgment a court cannot reverse. So your life insurance will go to the person that you have assigned it to.
As you can tell, there are a few steps that one can take to prevent missing and unclaimed life insurance. With a little preparation you can feel more secure your family will be taken care of.







Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"

Lost Life Insurance

There are certain situations which require that a person has life insurance. Accidents happen all the time and you can never know when your investment pays back. There being different kinds of life insurance policies, such as for protection, savings or investments, this is the best opportunity one has to think about their future and about their families’ financial future. In these conditions a lost life insurance policy can be quite problematic. This also stands for the situations in which the benefactor has passed away.

Once you have lost your life insurance policy, there is no way you can prove that you ever had one, if you do not know the company name. There are over 2000 life insurance companies in the United States so it is a thousand times more difficult to claim the benefits. There are a few steps one can follow when found in such a situation, so that they can finally make use of their life insurance. First of all, to prevent this from ever happening to your beneficiaries, the following are a few preventative steps you can take; You can keep your life insurance documents in a safe place such as a Safe Deposit Box. You can give a copy to your beneficiary and hope they keep good records. You can also give this to an attorney who your beneficiaries can contact if something were to ever happen. The least expensive and best method of all possibilities is to register with an online life insurance database that is secure and free. Make sure that the service you use never asks for any proprietary information as the only piece of information that needs to be stored is the company name that holds your life insurance. There is no need for your social security number or any amounts that your life insurance is worth.
The first thing to do after recovering the lost life insurance policy is to check the expiration date and see
whether it was temporary or permanent. If the benefactor’s death occurred prior to the expiration date, the person in question still has a claim, but if the death occurred after the expiration date, the lost insurance policy is no longer valid and has no value whatsoever.
One of the other problems which can appear with the life insurance policy in such cases is that the policy was not fully covered before the benefactor’s death. In such cases, the benefactor’s insurance company usually proceeds in two ways. First of all, the policy turns into a “reduced paid up” one, which leads to the benefit being lower, depending on the cash value amount, or it becomes an “extended term” one, the policy continuing to be valid for the period of time over which the cash value can cover the premiums.
Mostly all the problems disappear once the person finds the life insurance policy as they can now make the claim and they earn their money after filling out the necessary forms and presenting the necessary certificates, in case there are any to be presented. Of course, in case there should be any questions to address or misunderstandings, the person in question can always turn to their lawyer or to the insurance company. Any lost life insurance can cause a lot of problems, therefore, one should pay attention to such details and prevent such a tragedy, especially since a lost life insurance policy involves money and one usually covers amounts of money that are not to be neglected.


Until next time Michael Hartmann
www.findyourpolicy.com

Always remember our Mission Statement

"To be the best in serving our members by providing peace of mind that their beneficiaries receive their inheritance"