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Life Assurance - Prudential Industrial Branch Policy

midships Posts: 6 Forumite

24 September 2010 at 4:30PM edited 24 September 2010 at 4:33PM in Insurance & life assurance

A relative recently died and we found documents relating to a Prudential Industrial Branch policy.

The policy was made "Free Paid-up" in 1963 and the Memorandum we have says "When Payable" At Death, "Sum Assured Under Free Paid-up Policy" £9 10s 8d and "Bonus Addition" £6 1s 4d. Adding the two sums comes to £15.60.

My mother-in-law has just had a call from the Pru saying the pay out on this policy will be £15.31. Less than the policy was worth 47 years ago.

I have tried ringing the Pru but whatever number I ring they put me through to their Indian call centre and I can't get any sense out of them at all.

The sums involved are obvioulsy small, but it does seem at the very least most unfair that no interest or bonuses have accrued over the 47 years the Pru have had the money. £15 was a week's wages in 1963.

Any suggestions?

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Life Assurance - Prudential Industrial Branch Policy

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