Expert: Gene Ramsay - 9/24/2006

Question
Gene,
  Me and my sisters have insurance policies purchased by my parents in 1967 from The Beacon Life Insurance Company, Baltimore, Maryland. These policies were paid in full in 1977, and have a cash surrender value. However, I am unable to locate the company that currently holds our policies.
  Besides the original policies, I have an attached letter requesting payments to be redirected to "The Williamsburg Life Insurance Company, Baltimore, Maryland".
  Are there any resources available to help me locate the company currently responsible for our policies? Any assistance you can provide would be greatly appreciated.

  Thank you,

   Jack Sayers

Answer
There is actually a resource out there that might help.  Go to www.mib.com.  This is a cumulative site that deals with a number of issues dealing with life and health insurance.  Start there.  Then, maybe you can hunt down where your company ended up.  Many times Insurance companies will get bought out by larger entities and lose their "identity" and it's a matter of finding out when the last time Beacon was in business and where they went or who bought them.  Sounds like Williamsburg is a good starting place.
Those policies are out there.  It may take some time and effort on your part, but life insurance policies do not disappear.
One more thing you could consider is calling the state insurance board in the state where the policies were purchased.  They would have an accurate listing of all compnaies and their whereabouts as well as they have to be listed with that state to do business and sell insurance.  They can also help in getting you any beneficiary funds as well.

Until next time...


R. Gene Ramsay