Life Assurance Refund

Notsomessi

My mother passed away recently and we're in the process of sorting out the financial side. We've discovered she took out a number of life assurance policies, all of which have now lapsed. The company concerned have confirmed that as the policies have lapsed, that no claims will be entertained.

I've heard it said that in these circumstances although a claim is not permissable, that it is possible to recover payments made toward the policies. Is this true, and if so, how do we go about arranging this?

Savvy_Sue

I believe SOME policies MAY allow for a refund of premiums SOMETIMES, eg if death occurs within a year of the policy being taken out.

However, you're going to have to look at each and every policy and make contact.

If it appears that she took out policies which were never going to pay out then that could be mis-selling.

Notsomessi

Thanks, contacted the company, waiting for copies.

Keep_pedalling

If this were simple life insurance policies then no, cover remained in place while the premiums were being paid. You say they were assurance policies rather than insurance policies, if that is the case then some of the premiums should have been invested and would still have a value when the policy holder died.

Notsomessi

Thanks for your reply - still waiting for the company to provide further details.