Sleuthing finds forgotten cash

WHERE TO sTaRT yOuR HunT

FOR others tracking down old London and Manchester Assurance policies it is worth remembering that Royal London’s portion concerns life cover. Both it and Aviva do now point callers in the right direction.

If you think you have a pension or life policy with a company that has since been sold, the Association of British Insurers can help you find the provider now responsible.

Visit its “Register of Consolidations” which shows contact details for the provider you need at https://www.abi.org.uk/ data-and-resources/tools-and-resources/ register-of-consolidations/ deemed paid up. Thousands of these penny policies exist so it is worth families checking to see if an elderly relative has one and what rules govern payouts. Each insurer has different terms but it is key to find out about surrender and paid-up values, and whether interest is added.

At the time this was considered a wise investment to cover funeral expenses. But there is also another dimension. Having looked at the original document Crusader reckons there was also a lot to recommend in its clear expression, brevity and layout, especially compared to today’s policies and their lengthy terms and conditions.

Eileen and Ali were delighted with the result, thanking both Crusader and Royal London.

The insurer responded: “We are sorry the family faced delay getting a response from us but we have now processed the claim and are pleased they are satisfied with the outcome.

“We are looking into the problem encountered by them to make sure their experience is not repeated.”