Find out what will happen when your policy matures

You do not need to contact us about your forthcoming maturity, because we will write to you.

Approximately 8 weeks before the maturity is due, we will send a letter to the address we currently hold for you on our records. The letter will explain what will happen when your policy matures, tell you any action you need to take, confirm the maturity date and quote an estimated payment amount.

Please be aware that we will only write to, and make payment to, the legal owner of the policy.

Questions and Answers

What should I do if my address is now different from the address held in your records?
You can download a form to update your address in our How to – Inform us of a change of address section.

How can I notify you that I have changed my name?
Details of how to do this, and our requirements, can be found in our How to – Inform us that you have changed your name section.

Why will the letter show an estimated payment amount?
As the letter is sent in advance of the maturity date, the anticipated value, at that time, cannot be guaranteed. The actual payment amount will be calculated at the date the payment is made.

How will payment be made?
This will depend on how you have paid your premiums to us. Further details will be given in the letter that we will send you.

When can I expect to receive my maturity payment?
For unit-linked policies the value of your units cannot be calculated until the maturity date. Payment will be made shortly after this date. For all other policies we aim to make payments shortly before the maturity date.

What do I need to do about premium arrears or overpayments on the policy?
Any premium arrears or over payments will be taken into account when we calculate the payment amount.

Do I have to reduce/cancel my bank standing order/direct debit payments?
If you are paying by bank standing order, the letter we send you will contain information advising what action you should take to either cancel or reduce your payments. If you are paying by direct debit you do not need to do anything because we will automatically stop claiming premiums from your account.

I cannot find my policy document, what will happen?
Don't worry, we don't need to see this is order to pay your claim.

I think the policy was used as security for a mortgage, what is the process?
If the policy is assigned, or deposited with a bank or building society, we will write to them to see if they require the policy proceeds. If they send us a discharged Deed of Assignment, or Notice of Reassignment / Release, we can make payment to you.

The policy is written under trust, what happens?
We will write to the trustees of the policy. The signatures of all trustees will be needed before payment can be made.

I took out a ‘Child Policy’ for the benefit of a child at maturity. Will you write to me or the child?
Before the maturity is due we will write to the proposer of the policy, as nominee and trustee of the policy. The letter will advise that at maturity the child becomes the legal owner of the policy and that our letter regarding the maturity will be sent to the child.