Lost Policy

Britannica 22 years ago

In the early seventies I took out a Whole of Life Policy to cover a personal loan as part of the contract. The policy document was duly surrendered to me on completion of the loan. I cannot now find the policy and have to assume it was accidentally thrown out when we moved house recently.

I wrote to the insurers asking for a replacement policy document but they refused on the grounds that I could have assigned the policy to a third party (eg as security).

It's not a large amount...£3.600 with bonuses - but it would pay for my funeral and a good do afterwards :)

How do I resolve this ? The insurers have offered no advice - do I need a sworn affadavit or something ?

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Doug Ramage 22 years ago

And if the cat ate it? Or the house burned down?

The usual procedure is to get the policy holder to sign an indemnity and issue a duplicate policy.

The insurance is company is only bound by assignments of which it has notice.

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Tim 22 years ago

"Britannica" wrote

The insurers ought to be able to provide you with a "Lost Policy Declaration" (LPD) form, for you to sign & return. This will usually involve you confirming that the said policy document has been lost, and that you have no idea where it is - plus that, if the original does turn up later, you will either destroy it or return it to the insurer.

This ought to cover them in the circumstance where you have assigned the policy, because you will have lied on the LPD and the replacement policy document will therefore be null&void....

Try again at the insurer, and if they say the same thing instigate a written "complaint" by writing to their Complaints Dept.

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Ned 22 years ago

Go to the FSA website - consumer help and complain to them

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Regards Ned

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