Hi,

I am new to this so please bear with me,

My husband had a life insurance policy with a mortgage for a property he had .

This was taken out in 1987.

Unfortunately he had some financial problems and his property was repossessed in 2002.

We had completely forgotten about this policy with Pioneer Mutual but have come across it whilst clearing out a cupboard.

What we would like to know if anyone can help.

Could he chase this policy down and see if he has any claim on it or did it die when the property was repossessed .

Any help would be appreciated.

Thank you

no it will still be active.

and if it wont cough

reclaim it as he was prob told it was compulsory?

dx

thanks we will look into reclaiming it

What type of Mortgage did you have?

FS

Thread moved to Non-Retail subforums Insurance/Assurance Companies/Pensions

it was an endowment mortgage

Not the answer you are seeking,have you all the paperwork from the mortgage company? Because as it was an Endowment Mortgage it is more than possible that the Mortgage Company took the Life Policy as well.

I guess the property was sold under the market value,???and in these circumstances the Mortgage Company will grab every last penny

Check the paperwork

FS

The property was actually sold for more than what was owed on it .So do not know where that leaves us

Hello there.

It sounds as if you have a policy or a copy policy in your possession. Have you spoken to Pioneer Mutual to see if they can locate the details?

My best, HB

In case it's useful to you, here's the Which? guide on tracing insurance companies you might have lost touch with, plus the unclaimed assets register.

http://www.which.co.uk/money/savings-and-investments/guides/find-unclaimed-assets/life-insurance-and-friendly-societies/

Fingers crossed.

HB

That is really pleasing that the property was sold for more than the outstanding debt,so you at least got monies back.

Follow Honeybee13's thread and search out the Insurance Company,it is a straightforward process

Regards FS

Hello there.

 

It sounds as if you have a policy or a copy policy in your possession. Have you spoken to Pioneer Mutual to see if they can locate the details?

 

My best, HB

I have spoke to Phoenix life which was pioneer mutual and I am pleased to say that they have told me we can cash in the policy as it has been sitting there for years so we are very happy obviously we do not know how much we will get but something is better than nothing .The lady on the phone was very helpful so fingers crossed in the new year we will have a few pounds in the bank.

Thank you everyone for your help

Have a great Christmas and a happy new year

That's great. I'm pleased you managed to find them. Please keep us posted.

HB