£15 billion in lost and unclaimed assets - Don't lose yours
If you have changed your name or address several times, it is easy to lose touch with your financial assets. Death and failing to inform beneficiaries of financial accounts and policies is another.
Millions of pounds lie unclaimed in ‘forgotten’ accounts. The majority of this lost money comes from dormant bank accounts, unknown windfalls, missing shares and abandoned dividends, forgotten life insurance policies, National Savings Certificates and Premium Bonds which have not been redeemed; not to mention unclaimed National Lottery winnings!
Unclaimed money in the UK (confused.com)
• £15 billion – the estimated amount of unclaimed assets
• £31 million – The amount in unclaimed premium bond prizes
• £400 million – The amount of unpaid money in life assurance and pension schemes
• £1 billion – the total unclaimed money in NS&I products (excluding premium bonds).
• £400 million – the amount of unclaimed money in bank and building society accounts.
Without leaving updated financial records family members may remain unaware of the existence of assets which they may be entitled to receive as part of a residuary estate.
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