February 22, 2008
Life Insurance Policies: Claims
Whenever a claim is received in life insurance policies, policyholders should locate all insurance policies, including, if relevant, old policies. After a search of the obvious places (such as the risk management department), the next step in looking for missing policies or evidence of their existence is the company's legal files, paying special attention to files containing claims submissions. Known insurance policies should be reviewed for references to other policies, and all past and present brokers should be contacted. The company's accounting records should be examined and the company's past and present accountants should be asked to search their records for references to policies or claims made under them.