TENNESSEE - Tennessee Governor Bill Lee has proclaimed September as Life Insurance Awareness Month across the Volunteer State. To support the proclamation, the Tennessee Department of Commerce & Insurance (TDCI) is highlighting the importance of life insurance coverage and encouraging Tennesseans to review their policies. Life insurance can help families protect their financial futures and ease financial burdens following the death of a loved one.
“Life insurance is a critical insurance product, and our entire team fully supports Governor Lee’s proclamation, which should remind all Tennesseans to assess their families’ financial needs,” said TDCI Commissioner Carter Lawrence. “During Life Insurance Awareness Month, I encourage consumers to evaluate their current benefits, seek advice from qualified insurance professionals, and take the actions necessary to achieve a financially secure future for their loved ones.”
TDCI is also reminding consumers about a free service designed to help locate life insurance policies. Those who need assistance determining whether a deceased loved one had a policy can use the National Association of Insurance Commissioners’ (NAIC) Life Insurance Policy Locator Service. The tool can help determine whether an individual is a beneficiary of a life insurance policy.
In 2025, the service helped locate more than $107 million in life insurance benefits for Tennesseans.
“Life insurance policies are intended to help cover financial burdens, such as medical bills, funeral costs, and other financial obligations that can occur after losing a loved one,” said TDCI Assistant Commissioner for Insurance Scott McAnally. “I encourage consumers who have questions about whether they are beneficiaries of a policy to file a search request.”
For more information about the locator service, consumers can visit the NAIC website or contact the Tennessee Department of Commerce & Insurance at 1-800-342-4029 or 615-741-2218.
Things Life Insurance Policyholders Should Know - Life insurance policies can generally be taken out by someone who can demonstrate an insurable interest in the person being insured — meaning there is a financial interest in that person’s life. TDCI reminds policyholders that their responsibility does not end once the paperwork is completed. There are several steps consumers should take to help ensure their policies work as intended for their loved ones.
Policyholders should review their coverage following major life-changing events, such as the birth of a child or a divorce, and make certain the appropriate beneficiaries are listed. Policies should also be reviewed at least once a year to ensure beneficiary information and contact details remain accurate.
Quick Details to Find Insurance Policy Details:
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Complete the NAIC's Online Life Insurance Policy Locator Service Request Form HERE
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For more information on the Life Insurance Policy Locator Service and other consumer insurance resources, visit Tennessee based blog or contact the TDCI Consumer Insurance Service Division at 1-800-342-4029 or (615) 741-2218.
TDCI recommends letting beneficiaries know that a policy exists. Policyholders should also consider providing beneficiaries or trusted advisors, such as accountants or attorneys, with the name of the insurance company holding the policy. A current copy of the policy should be kept with a will or other estate documents in a secure location where family members or beneficiaries can easily locate it.
According to information provided by TDCI, an insurance company has 60 days to pay a death claim to beneficiaries. If a claim is not paid within 15 days of the date of death, the company must also pay interest. Tennessee also provides a 30-day grace period for missed payments. If a payment is missed, coverage continues for 30 days even if the missed payment is not made up.
