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

  • 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.

  • 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.

  • The Company shall not deduct or charge the Beneficiaries, either directly or indirectly through or by any person or company, for any fees or costs as part of the Thorough Search.

  • Subject to Schedule B, if the Company is not contacted by a Beneficiary within one hundred twenty (120) days of the Date of Death Notice, the Company shall promptly commence a Thorough Search, which shall be completed within one (1) year from the Date of Death Notice.

  • Paragraph 2.i. further requires the Company to perform a Thorough Search for the Owner if the notice letters are returned as undeliverable, disallows extending the Maturity Date in the absence of affirmative request by the Owner, and provides for the reporting and remitting as Unclaimed Property proceeds where the Owner cannot be located by Thorough Search or where annuity payments are not deposited within one year.

  • The Company shall conduct a Thorough Search for group life insurance policies, including group life insurance certificates issued thereunder, where a group life insurance claim is received for which the Company, from information in its administrative systems and/or the group policy claim form, is able to determine that a benefit is due and is able to determine the benefit amount, but the beneficiary cannot be identified and/or located.

  • Prudential shall implement policies and procedures for conducting a Thorough Search.

  • In the event that Prudential locates the Beneficiary following a Thorough Search, Prudential shall provide the appropriate claims forms or instructions, if required, to the Beneficiary to make a claim, including instructions as to the need to provide an official death certificate if consistent with law and the Policy, Annuity Contract, or Retained Asset Account.

  • The obligation to conduct a Thorough Search under the terms of this Agreement shall not abrogate the obligation of the Company to complete any due diligence within the timeframe required by any applicable law.

  • In any event, the Thorough Search shall be completed within one (1) year from the Date of Death Notice and subject to the provisions of Section 2(b).


More Definitions of Thorough Search

Thorough Search means 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 reported as dead. A Thorough Search shall include any methodology believed likely to locate a Beneficiary and, at a minimum:

Related to Thorough Search

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  • snippetLinks [{"key":"specifically","type":"clause","offset":[20,32]},{"key":"provided-herein","type":"clause","offset":[33,48]},{"key":"at-the-closing","type":"clause","offset":[50,64]},{"key":"the-parties-shall","type":"clause","offset":[65,82]},

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