Life Insurance Policy Not Cashed In

Tilly2 | 09:04 Sun 19th Mar 2017 | Personal Finance

27 Answers

I have found a life insurance policy that relates to dad and it matured in 1997.

For some reason it was not cashed in when it matured and is still 'there' waiting to be collected.

It's a life insurance, for the princely sum assured of £452

Considering it's been sitting around, unclaimed for twenty years, does anyone know how much it might be worth now.

The Insurance company won't tell me as 'it might change before it's actually paid out'.

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fiction-factory

You may also find it was cashed in at the time. This may just be a copy. Or maybe they were able to pay it out automatically without needing the doc. This sometimes turns out to be the case with old savings account books people find

fiction-factory

No you won't pay them Tilly. If the annual charge is 1% of the remaining policy value you would get £485 x (0.99)^20 = £397

Tilly2

Question Author

I have been told that the policy has not been cashed. I was asked to make a claim, sending all the necessary documents. There is some money owing. They just wouldn't tell me how much.
Another trip to the post office tomorrow.