Guide to Tracing Unclaimed Insurance

lost insurance policyIt’s impossible to put an exact figure on the value of all the unclaimed insurance policies in the UK, but it’s likely to be in the billions. Everyone knows that as you get older you get more forgetful, and it’s not uncommon to lose track of financial investments. So what steps can you take to recover a lost insurance policy?

The Unclaimed Assets Register (UAR) is the best starting point for anyone trying to track down lost life insurance policies. The UAR is operated by ‘credit risk management’ giants Experian and aims to help locate lost assets and then put you in-touch with the relevant financial provider to make a claim.

Experian currently holds approximately 4.5 million assets from 85 different companies, and puts the overall value at between £15-20billion. They process 600 enquiries per month and estimate that 10% come back with possible matches, with an average asset value is £6,000.

The UAR is an online service which can be used for a fixed fee of £25.00, enquiries are registered for six years and the fee includes ongoing monitoring. The service can be used to trace a diversity of financial assets, including pensions, share dividends and unit trusts.

If you don’t have any luck with the Unclaimed Assets Register it’s worth writing to the larger insurers and explaining your circumstances. A complete list of members of the Association of British Insures can be found on their website. Make sure you include as much personal information as possible, such as: previous addresses, important dates and employment details.

At the same time start working your way through any old bank statements looking for payments made to financial institutions. It’s worth approaching previous employers (to enquire about work-related policies) and anyone who may have dealt with your relative’s legal or accounting matters.

You may find the following free services useful in tracing other lost assets: the Government’s Pension Tracing Service (pensions) My Lost Account (bank and building society accounts), the Association of Investment Companies (Investment trusts), and the Investment Management Association (unit trusts).


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