Lapsed Whole of Life Policies

Hard_food_for_midas

I've just taken over power of attorney for my mum who, for probably 15 years, has not been on top of her admin. It looks like she paid in to whole of life policies and lost track as the companies merged and direct debits stopped about 15 years ago. In one of the policies, she'd paid more than £6000 and it's all just disappeared - no doubt in fees over the years.

They were all 'older style' products with investment aspects. One of them was a Unit Linked whole of life policy, started in 1999. Another two started in 1981. They obviously pre-date the Financial Services Act. 

Mum has suffered with mental health issues all her life and her ability to cope with things has never been great. I live many miles from her and she shielded all of this build up of admin work from us. She is a hoarder. And proud. It's a perfect storm for someone to let things go.

I remember trying to review everything for her (she lives hundreds of miles away) in 2008, but by the time all the paperwork came through, she forgot to send to me or ask me to follow up and I busily got on with my life.

I do not think there is anything that can be done as all the time limits have passed around 2009. 

Is there any way at all that we can redeem anything from this? 

dunstonh

They were all 'older style' products with investment aspects. One of them was a Unit Linked whole of life policy, started in 1999. Another two started in 1981. They obviously pre-date the Financial Services Act. 

1999 is over a decade after regulation started.  1981 is pre-regulation.

Is there any way at all that we can redeem anything from this? 

If there was value, there would still be annual statements being paid.
Lapsed means the policy ended with no value.   So, if they say they are lapsed then there is no money.

 In one of the policies, she'd paid more than £6000 and it's all just disappeared - no doubt in fees over the years.

Not to do with fees.      And, I hope that with my own life assurance, that the policy will end after paying £27,600 over the years and it will not need to pay out.