NU Online News Service, Oct. 18, 2:07 p.m. – The MIB Group Inc., Westwood, Mass., a nonprofit group that collects information on consumers who apply for life insurance, says it will give relatives of Sept. 11 attack victims free help with locating any in-force policies the victims might have had.
“Locating personal records of the deceased and determining the aggregated benefits due to the victims’ families has become a daunting and frustrating task for those seeking information,” MIB says. “Survivors and families may not know of the insurance assets a victim had in place and in some instances, the records may have been destroyed.”
The insurance industry has no central database or registry of life insurance policies, but MIB has a seven-year archive of application-related information for people who have applied for life insurance through MIB member companies, MIB says.
The archive covers about 90% of all individual policies written in North America, MIB adds.