Missing Beneficiary Insurance

Peace of mind for executors and beneficiaries:

  • Finance Available * See Below
  • 1 policy covering claims from missing beneficiaries forever
  • Allows the estate to be distributed without any future liability if a missing beneficiary comes forward to claim against the estate.
  • Beneficiaries would not be asked to repay any received funds from the already distributed estate.
  • The costs of the insurance policy can be claimed as an estate expense.
Missing Beneficiary Insurance

A key insurance cover for executors, personal representatives and beneficiaries

What's on this page

On this page, you will find a lot of useful information to help you arrange Missing Beneficiary Insurance in the UK.

If you already know what insurance you need, you can click 'Get a Quote'. We will use the information you provide to obtain a quotation from our underwriting partner, CLS Property Insights, who underwrites Missing Beneficiary Insurance on behalf of Great Lakes Insurance SE.

If you have questions on the cover you should find they are answered on this page. If not, start a chat or contact us. You can click on any of the items in 'Contents' to jump to the section that interests you.


What is Missing Beneficiary Indemnity Insurance?

Missing beneficiary indemnity insurance is an important consideration for executors, administrators and beneficiaries. It will protect them should a missing beneficiary claim a financial liability against the estate after it is distributed.

Insurance can be purchased where a Beneficiary is either:

  • Known to exist but was missing; or

  • Unknown when the estate was distributed.

Examples of scenarios where this could happen are:

  • A beneficiary is recorded in a will or a genealogist report but their location is unknown; or

  • no one involved in administering the estate knew about the missing beneficiary.

Missing beneficiary insurance covers:

  • The legal defence costs associated with the challenge by the missing beneficiary;

  • The payment of damages and money owed to Beneficiaries if their legal challenge is successful;

  • Any other costs incurred by the insured with the prior consent of the insurer.

In the absence of insurance, these costs would need to be funded by the executors or administrators of the estate. If the missing beneficiary's legal challenge is successful, the beneficiaries may also be required to repay their share to the estate so it can be redistributed.

This is why anyone involved in the administration of an estate, should consider missing beneficiary insurance.

The policy can be purchased in isolation or it can be combined with a missing will insurance policy to fully protect the executors and the estate.

The cost of missing beneficiary insurance can also be reclaimed as an estate expense. 

Missing beneficiary insurance should be considered when:

  • The estate is large. The larger the estate, the more likely it is that there will be beneficiaries who are difficult to locate.

  • The estate is complex such as it involves businesses or trusts, which may make the estate more difficult to distribute fairly.

  • The beneficiaries are young or elderly may make them more difficult to locate.

  • The executor or administrator is inexperienced as this could make it more likely a beneficiary is missed.

If you have any questions about missing beneficiary insurance, please start an online chat or Contact Us.

Why buy Missing Beneficiary Indemnity Insurance?

  • The policy provides cover forever.
  • Protection for all executors, administrators and beneficiaries from financial liability if a beneficiary comes forward in the future.
  • The beneficiaries will not need to repay their share of the estate. The insurance policy will compensate any missing beneficiary.
  • It helps avoid costly and time-consuming legal disputes.

Arranging Finance for Missing Beneficiary Insurance

If there aren’t funds in the estate to pay for the insurance protection upfront, you and the beneficiaries don’t need to worry.

Insuristic customers can fund the cost of any of our Probate Insurance Policies with our partner, FSL Finance.

The loan is simple to arrange, with 90% of applications being accepted immediately.

There are no arrangement fees or early repayment charges. 

Once a loan is approved, the money is paid to Insuristic to finance your insurance policies.  You will then need to pay FSL Finance a monthly amount until the loan is repaid.

If you need cover before the loan is repaid, we can help you.  Instructions of what to do in this scenario will be provided in your quotation.

You can find out more or start an application on our Probate Loans page.

What to do before you buy a Missing Beneficiary Indemnity Insurance Policy

A missing beneficiary indemnity insurance policy contains clauses you must comply with before buying a policy. For example:

  • Please ensure that a comprehensive genealogy report and family tree have been produced. You will need to provide copies when you request a quotation. Visit our Probate Genealogy page to find a professional genealogist or learn more.

  • A specialist provider researching at least three generations must produce and verify these reports. The reports should confirm that no potential missing beneficiaries exist and that no further investigations are required.

  • If a known beneficiary may be entitled to a share of the estate, you must confirm that they cannot be traced despite your investigations before the start of the policy.

  • You will also need to confirm that none of the people insured on the policy are aware of any other party having an interest in the estate who is not benefiting from it at distribution.

  • Lastly, if a Statutory Section 27 Notice has been placed, you must confirm no unknown beneficiaries have come forward. You can also buy Section 27 Indemnity Insurance from Insuristic.

So, before you request a missing beneficiary insurance quote, you should appoint a professional to conduct a genealogy search.

What is insured on a Missing Beneficiary Insurance Policy?

  • Financial losses the insured incurrs due to an unknown beneficiary coming forward once the estate has been distributed;
  • The cost of any settlement made out of court to an unknown or missing beneficiary;
  • The cost of taking or defending any action in respect of an unknown or missing beneficiary's claim to a share of the estate after distribution;
  • any other costs and expenses you incur with the Insurer’s written consent because of an insured risk

What is not insured on a Missing Beneficiary Indemnity Insurance Policy?

The insurer could refuse to pay a claim for the following reasons:
  • Any loss arrising from a matter which the insured party was aware of at the Inception Date;
  • If the insured makes steps to trace a missing beneficiary after the inception date;
  • Any loss arising from the later discovery of a will after the inception date of the policy;
  • the beneficiary is making a claim under the Inheritance (Provision for Family Dependants) Act 1975;
  • the insured party confirming a statement of fact which the insured knew or could reasonably have been expected to know was not true;
  • the insured party makes a claim knowing that it is false or fraudulent;
  • the insured party discloses this policy exists to another person.

Cover restrictions to be aware of

The insured party will not, without the written consent of the Insurer:
  • disclose the existence of this policy, other than to your respective Legal representatives
  • communicate on any matter regarding an insured risk with any party who, it is reasonable to believe, may have an interest in enforcing an insured risk;

Making a Claim on a Missing Beneficiary Indemnity Insurance Policy

If you receive a claim on missing beneficiary insurance you must adhere to all the claims conditions listed in the policy.

Failure to do this could mean the insurer rejects your claim, or they could reduce the value the policy pays out if the breach of conditions increases the value of the loss.

You should ensure you read and understand all of the policy conditions listed in the policy.

Here are some pointers on what you should do in the event of a claim:

  1. You should never tell a third party about the existence of this policy.

  2. If there are circumstances that might cause a claim, you must tell the insurer in writing as soon as possible. You should also provide the insurer with as much information and documentation as you can.

  3. Don't incur any costs relating to a claim without first consulting your insurer

  4. Never admit liability or offer to pay or settle with someone else. You should refer the matter to your insurers claims team.

  5. Pass all correspondence and requests for meetings to your insurer's claims team.

For full details of your claims conditions, you must read your policy wording or speak to the insurer's claims team for guidance.

Frequently Asked Questions

Why not try Insuristic for a Missing Beneficiary Insurance Quote?

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About the Author

Rob Faulkner CEO of Insuristic

Hi, I'm Rob, CEO and Founder of Insuristic. My mission is to make insurance easier to understand and buy online.

I hold an Advanced Diploma in Insurance (ACII) which demonstrates I have a solid technical understanding of Insurance and have committed to continuous professional development. I am also a member of the Chartered Insurance Institute and hold the a Chartered Insurance Broker status.

Over the last 27 years, I have worked for insurers, insurance brokers and insurance technology businesses, specialising in product, sales and marketing.

You can find out more about me on my author page.

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