Missing Beneficiary Insurance
Resolve inheritance issues when a beneficiary remains unfound.
Following the death of a loved one, the settlement of their estate can provide some small comfort to those left behind. If a beneficiary named in the Will cannot be traced, this process can drag on and deny the opportunity for that much-needed closure.
With a missing beneficiary policy (otherwise known as missing beneficiary indemnity insurance), the known beneficiaries can receive their inheritance even if another beneficiary remains unfound.
If the missing beneficiary comes forward at a later date, the value of their entitlement would be paid out by the policy.
While a missing beneficiary policy should only be used as a last resort, with every effort to trace the missing party having to be made first, the cover it provides is reassurance for the executor, administrator, trustee and known beneficiaries.
This policy will allow present beneficiaries to receive their inheritance and help the family to move on peacefully at an extremely difficult time.