A life insurance industry underwriting information consortium has started marketing its life insurance policy locator service to estate attorneys.
MIB Solutions Inc., an arm of MIB Group Inc., Braintree, Mass., began offering the service, the Policy Locator Service, to consumers in 2004.
The database can be used to determine if an insurer took a policy application for a deceased individual and submitted a query to fraud detection, MIB says.
The information can then help point a user to a company or companies that might have issued life insurance — including lost or missing policies — on the deceased.
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