Myths about the Social Security Death Master File
The Social Security Death Master File (DMF) is getting a lot of attention lately from the Insurance Regulators and the unclaimed property community. During my 16 years with Prudential’s Unclaimed Equities Division, I had extensive experience with the Social Security Death Master File. Although it is a good tool, I think it’s important to consider some of the myths surrounding it.
Myth #1. The DMF contains the names of all deceased individuals with a Social Security number.
Reality. Only persons with a Social Security number (SSN) whose death has been reported to the Social Security Administration are listed on the database.
Myth #2. If a person is not listed on the DMF, they are alive.
Reality. If at the time of death a person was not receiving benefits, they would not be listed on the DMF.
Myth #3. If a person is listed on the DMF, they are dead.
Reality. Unfortunately, errors do occur and a person could be on the DMF and still be alive.
Myth #4. The DMF contains records as far back as 1937.
Reality. Although the DMF does contain some old records, 98% of the DMF are deaths occurring after 1962.
Myth #5. The DMF contains enough information to confirm the death.
Reality. The DMF contains basic information about the deceased, i.e., SSN, last name, first name, date of death, date of birth, last known residence, and location of benefit. Confirmation of the death via a death certificate is essential before terminating benefits or escheating the funds.
In summary, the Social Security Death Master File is a good tool but it is important to remember to remember the following:
- It will not identify everyone who is deceased.
- It should not be relied upon solely for the purpose of initiating death claims.
- There will always be policies held by insurers until the insured reaches the limiting age.