A lost life insurance policy is not only a huge hassle but can also mean that the personal information on the document could be misused by someone. Even though we may have online life insurance policies in today’s time, a physical copy of the document is necessary for different purposes. However, this means your policy document can be lost or misplaced if you are not careful enough.
 

One may assume that lost insurance policies can be difficult to recover. But that is not the case; if you are patient and consistent enough, you can easily find your lost life insurance policy in 10 easy ways to track down your life insurance details.
 

10 Simple Ways to Find a Lost Life Insurance Policy in India
 

A lost life insurance policy not only compromises your privacy but also means that in the event of your death, your family will be unable to get the death benefits from the policy. Without the document or the details, your family or nominee may not know the sum assured they are to receive or how they can proceed with the claim. This is what makes it important to ensure that the document is always safe and secure:
 

• Search all your documents
  
  Most people tend to keep all important official bills, documents and certificates together in a safe place. In case you do the same but do not designate separate folders for your papers, it could be likely that your life insurance policy could be under a bunch of older certificates and documents that you may not have paid attention to for a long time. In case your family knows at least the life insurance provider’s name, they can get in touch with the insurer to request the life cover policy details.
  
  
• Search bank statements for the life cover policy
  
  The record of the premiums paid towards the life insurance policy could be present in your bank statements. Get in touch with the late policyholder’s bank and request the bank statements, or you can visit the bank branch to procure the statements. However, for accessing the bank statements online, ensure that you have access to the insured’s correct login credentials. In the emails, you may also find a soft copy of the policy document, unless the email was lost or deleted due to a technical glitch.
  
  
• Get in touch with your financial advisor or attorney
  
  Reaching out to the lawyer or financial advisor of the late policyholder in case of a lost life insurance policy can help you get sound advice on what can be done. Since such people are used to handling issues like this, they will be able to guide you better. If the policy was purchased through an insurance agent, you could also contact them for the policy details. In the case of Tata AIA Life Insurance Plans, we would advise you to directly contact our customer care team for better and more secure assistance.
  
  
• Look into the life insurance application
  
  Just like the policyholder may have maintained a folder of all important documents, you may want to look into the folder for the life insurance application that is filled out before one buys a life insurance policy. In such an event, the life insurance application can at least help you with some crucial details that will enable you to file a claim for the policy benefits.
  
  
• Get in touch with previous employers
  
  Whether or not the life insurance policy has been provided by the previous employers of the late policyholder, it is always wise to check with the former companies if they have any record of the life insurance policy with them.
  
  Generally, during the course of employment, one may need to provide some basic details of their life insurance plan to their employer in case of an unfortunate incident at their workplace. If the policy is a group life insurance plan under which the late employee was covered, their current company can give you the details of the same.
  
  
• Search Income Tax* Returns Statements
  
  If there is a life insurance policy, one can claim tax* benefits on the premiums and the policy proceeds as per the prevailing tax* laws.
  
  However, this needs to be declared as an investment, and the tax* returns will have to be filed for the tax* benefits. By going through the previous year’s income tax* returns statements, you can find out the policyholder’s life insurance details and then file a claim with the insurance company.
  
  
• Contact the official state authority
  
  Each state has an insurance department which regulates and maintains a record of all life insurance policies. By writing a formal letter to the authorities in this department, you can ask for the details of the policy. If you feel that you still want to make an effort from your end first, you can hire a professional search agency to look for this important document.
  
  
• Try looking into the government database
  
  If the life insurance policy was purchased from any of the recognised life insurance companies in India, the online government database will have a record of the lost life insurance policy. You can easily search the official website of the database online and go about looking for the lost policy. In most cases, you will be able to find the policy details here.
  
  
• Write to the State Department
  
  Each state in our country has a department where all the details of any unclaimed property are available. Since the life insurance benefits are meant for the policyholder’s family or nominee after the claim is filed, until then, the insurance policy is considered unclaimed property.
  
  You can write to the office of the State's Unclaimed Property department and enquire about the details of the lost life insurance policy.
  
  
• Let the insurance provider get in touch
  
  Life insurance providers are usually up-to-date with the details and important events of their policyholders. In fact, insurers keep communicating important policy-related messages through calls and email. Hence, on the policyholder’s death, the insurer will reach out to the family covered under the life insurance policy. Most insurance providers contact the nominees almost immediately.
   

Conclusion
 

If you are worried that you may lose your life insurance document and, on your death, your family members may not be able to access it, you can protect your life insurance policy in a cloud storage facility known as DigiLocker. This initiative by the Government of India ensures that all Indian citizens are able to store their important documents safely.

L&C/Advt/2022/Sep/2356