Can't find endowment policy

Fiver55

Can anyone help please? My partner's ex-wife died a few months ago and he is trying to deal with the paying off of the mortgage as they had a joint endowment policy. He informed the insurance company of her death and they have asked him for certain paperwork including the original policy which she held but the family cannot find. We assume the mortgage company are aware she has died though this would have been dealt with by her son, who is the executor. Can the mortgage be paid off if he cannot produce the policy? Also, he is concerned as to what is happening about the mortgage payments as their son still resides in the family home and we know he has received a letter from the mortgage company concerning non-payment but as we are outside the loop so to speak, know little else. Will they still be expecting monthly payments from someone? Very confused!

opinions4u

The executor is liable for the mortgage payments - they should be maintained although some lenders may arrange for a 'payment holiday' if this isn't convenient.

The policy may be kept by the lender (if the policy is assigned to them).

If not, the life company simply need advising that it can't be found. They will then advise what proofs are required for paying the claim. There may be small costs involved, but these will be cheaper than paying interest on a debt that should be cleared.

Fiver55

Thanks for the advice opinions4u, that's a relief. Much appreciated

dunstonh

A lost policy document declaration is all that is needed if it cant be found. It is not unusual to complete one of these even if the policy document is available as it saves postage costs.