Life insurance ensures a financially secure future of your loved ones, what more can you ask for when you are not with your loved ones. You explore a wide range of life insurance policies, choose the one that best fits your needs and budget, and then you pay a premium for the same every single month, everything to secure the future of your loved ones. But, have you ever imagined a situation where your loved ones don’t even know if you have life insurance and it remains unclaimed? Yes, your family must know about it. Check out how can you find out if your loved ones had life insurance.
Various life insurance policies remain unpaid as they are never claimed. See how you can find out:
Checking the bank statement
This is one of the easiest ways to find out about any existing life insurance. Once you will have a bank statement, you can find the amount reflecting in that statement and the name of the insurer or some useful information. Then, you can contact the insurer with all the necessary information.
Life insurance policies, as well as other types of financial assets, can be found through the Unclaimed Assets Register.
When you make use of UAR, you will have to create an account and it will be chargeable on every search you do. Currently, the Applicable charges are £25 per search.
The Unclaimed Assets Register (UAR)
As a beneficiary. you can apply to the Unclaimed Assets Register and y0ou will come to know if there exist any financial records for the deceased that is never been touched. It costs £25 fee.
What happens to the unclaimed policy?
In general, there is no specific time to claim the insurance policy, you can do it within a few weeks or whenever you find it.
Consult professionals for more details
If you want to know more about finding someone’s life insurance policy, consult our insurance professionals.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00