Thorough Search definition
Thorough Search means the minimum Company efforts to locate and contact the Beneficiaries of a Life Insurance Policy, Retained Asset Account, or Annuity Contract after receiving a Date of Death Notice that indicates that the Company's Insured, Accountholder, Annuity Contract Owner (for products where death of such Annuity Contract owner would trigger a death benefit) or annuitant has been reported to be dead. The Company may utilize any methodology to locate a Beneficiary that can be demonstrated by the Company to provide equivalent or better results than the Thorough Search. A Thorough Search will be deemed completed the earlier of when (1) a Beneficiary has been located, or (2) the following steps, at a minimum, have been performed:
i. The Company has used its best efforts to identify the Beneficiary and determine a current address for the Beneficiary or another contact from the Company's Records, including but not limited to internal databases (if current address of the Beneficiary is not available, the last known address of the Insured or Annuity Contract Owner can be used);
ii. The Company has made three (3) attempts to contact the Beneficiary in writing at the address contained in Company's Records or at the address determined in (i) above; provided that, if such writing is returned as undeliverable, the Company will not be required to send any additional mailings to that address and will within thirty (30) days update the address using online search or locator tools, including but not limited to the DMF Update File, Lexis Nexis, Accurint or other comparable databases; the Company will not be required to search for more than one (1) alternative address to locate a Beneficiary, provided that Company uses any alternative address discovered during a search to attempt to locate the beneficiary.
iii. In the event that no response is received to a ny of the writings specified in (ii.) above, or a writing is returned as undeliverable and no updated address can be located, the Company will attempt to contact the Beneficiary by telephone number if his/her number is contained in Company's Records, if any, provided that each attempted contact shall be logged;
iv. In the event that no response has been received to the attempted contacts described above, the Company shall attempt to contact the Beneficiary at his or her most current e-mail address contained in the Company’s Records, if any. If the value of a Life Insurance Policy, Annuity Contract, or Retained Asset Account is d...
Thorough Search means good faith efforts to identify a
Thorough Search means the minimum Company efforts to identify, locate and contact the Beneficiaries of a Policy, Retained Asset Account, or Annuity Contract after receiving a Date of Death Notice that indicates that the Policyholder has been reported as dead. A Thorough Search shall include any methodology believed likely to locate a Beneficiary and, at a minimum:
(i) The Company shall use its best efforts to identify the Beneficiary and determine a current address for the Beneficiary based upon Prudential Records;
(ii) The Company shall make at least three (3) attempts to contact the Beneficiary in writing at the address in (i) above; provided that, if such writing is returned as undeliverable, the Company will not be required to send any additional mailings to that address and will within thirty (30) days attempt to locate Beneficiaries using online search or locator tools, such as Lexis Nexis Accurint;
(iii) If the Company obtains an updated address using online search or locator tools as described in (ii) above, the Company shall make at least three (3) attempts in writing to contact the Beneficiary at that address;
(iv) In the event that no response is received to the writings sent pursuant to ii. and iii. above, or a writing sent pursuant to ii. and iii. above is returned as undeliverable, the Company shall attempt to contact the Beneficiary at least three (3) times at the most current telephone number contained in Prudential Records or obtained through the Company’s use of online search or locator tools.
(v) In the event that no response has been received to the attempted contacts described above, the Company shall attempt to contact the Beneficiary at the most current available email address, if any;
(vi) The Company shall maintain documentation of all attempts described in (i)-(v) to contact the Beneficiary. Notwithstanding the above, the Company’s obligation to conduct a Thorough Search shall cease upon documented contact with a Beneficiary. In the event the Company fails to locate a Beneficiary, including through the efforts described above, the Company shall report and remit the policy proceeds in accordance with applicable state unclaimed property laws.
Examples of Thorough Search in a sentence
For the sole purpose of this Agreement, the Company, within the time period in Schedule B, shall implement policies and procedures establishing a DMF listing as prima facie proof of death and requiring the Company to initiate its death claims process and conduct a Thorough Search for Beneficiaries in accordance with Section 2(b) of this Agreement.
At the conclusion of that one (1) year period, if (i) the Beneficiary cannot be located by a Thorough Search and (ii) the Company is unable to establish an Exception, it shall report and remit the death benefit proceeds as Unclaimed Property to the affected state(s) in accordance with the applicable Unclaimed Property Laws.
More Definitions of Thorough Search
Thorough Search means reasonable and good faith efforts, which an insurer shall document, to identify a beneficiary, determine a current address for the beneficiary and contact the beneficiary.
Thorough Search means good faith efforts to identify a Beneficiary, determine a current address for the Beneficiary, and contact the Beneficiary. At a minimum, a Thorough Search shall include: (i) attempting to identify and obtain contact information for Beneficiaries by searching all Insurer Records, online search and locator tools, and other sources including without limitation records of agents or producers appointed by the insurer and associated with the Policy, death certificates and funeral home records; (ii) at least 2 attempts to contact the
Thorough Search means the minimum Company efforts to identify, locate and contact the Beneficiaries of a Policy, Retained Asset Account, or Annuity Contract after receiving a Date of Death Notice that indicates that the Policyholder has been