How Long Should I Keep Life Insurance Statements? 
The main thing to do with Life Insurance is to keep the actual policy and let someone know where you have kept it . As long as you have paid it in a timely manner , the insurance company will be able to pay the death benefit even if all you have is the policy number . It is also helpful to keep the last statement , so that if there is ever a contention , you can show that you paid it . Beyond that , some say to keep statements for 5 years , some say to shred them as soon as they are paid . There is no one right answer . 