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Life insurance. Look after your policy documentsAuthor: Emma Mayo It looks like some life insurance policies are forever - because
There are a myriad of reasons why life insurance policies get forgotten:
It can get even more complicated. There were a lot of life assurance policies sold in the later half of the 20 th Century which doubled as savings vehicles, and were very popular at the time. As times have changed and companies have been bought by larger companies, they have disappeared off the radar, but the money will still be there - waiting to be claimed one day. If you have a life policy and the company no longer exists, the Internet is the best place to look. Search on the company name in Google then you should be able to get some information relating to the company that now owns the policy. If that fails, then try the Association of Friendly Societies on 020 7216 7436 ( www.afs.org.uk ) - a trade body that has old records relating to friendlies and mutuals from the past. Did you Know? Did you Know? Did you Know? Everyone has seen mortgages advertised with incredibly low interest rates on both the Internet and in the national press. Experience has shown the mortgage lenders that it's a low headline interest rate that pulls in the borrowers. The problem is that these ultra low rates force them to replenish their profits in other ways. A common solution is high arrangement fee. Arrangement fee are charged to supposedly cover the cost of managing the mortgage application and reserving the advance. These fees can normally be rolled in with the mortgage advance but some lenders require them to be paid in up front. And the fees do vary enormously, not only between lenders but even between mortgage products marketed by the same lender. So keep your eyes skinned! |
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