What Do I Do If I've Lost My Life Insurance Certificate?

by: Kate Tee
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Word Count: 407

Policies such as those for life insurance are forgotten about by a higher number of people than we might expect. This is because such policies are long term, sometimes 20 years or more, and holders can often move house or simply lose their documents during that time. Consequently, there are many individuals who never claim the money that is owed to them - and whilst The Daily Mail recently offered the 'conservative' estimate that £2 billion has been lost this way, in December, Norwich Union announced that they had reunited customers with £10 million of unclaimed money in 2008 alone.

So if you lose your life insurance documents where do you turn?

There are a number of organisations and companies in place that might be able to help you in such a situation. Perhaps the first place to enquire is with the Association of British Insurers (abi.org.uk). Formed in 1985, the Association was established by the British Insurance Association, the Life Offices Association, the Fire Offices Committee and the Accident Offices Association in order to represent the insurance industry in the UK.

Today, rather than a minority of specialists representing UK insurance, the Association has grown to include 400 separate companies responsible for 94 percent of domestic services sold. Amongst other things, the Association prides itself on being 'an advocate for high standards of customer service in the insurance industry' and so if it can't assist you directly, will certainly be able to advise you on your next move.

Additionally, you can also enlist the help of a commercial service such as the Unclaimed Assets Register (uar.co.uk). The UAR is a service offered by the financial analysis company, Experian, and holds a database of unmade claims through insurers (and others) ranging from Zurich to Sun Life. It costs £25 for the UAR to explore its database, a price that seems incredibly competitive when one acknowledges that it currently has data relating to an approximate £500 million of unclaimed money.

Finally, Assets Reunited has worked closely with Norwich Union and Barclays but is a corporate facing company and so will usually need to be approached through and with the aid of your insurer. Checking whether your insurer has worked with them via their website (assetsreunited.co.uk) may well lead you in the right direction. But this is also probably your best bet if you are a business owner with assets owed to staff etc.

Article Source: http://www.ArticleStreet.com/profile/kate-tee-11796.html

About the Author

Visit http://www.confused.com/life-insurance for life insurance quotes or to buy a life insurance policy, offering you a way to look after your family and staff even after you die.

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