Millions of people in the UK have life insurance or protection policies they’ve forgotten about — meaning many families could miss out on money when they need it most.
It’s estimated there are around 3.4 million dormant insurance policies in the UK worth a combined £8.1 billion. That’s an average of £2,366 per policy — roughly two months of average mortgage payments.
These policies often go missing due to life changes like moving home, getting married, changing name, or divorce. And with rising living costs, nobody wants to leave valuable protection unclaimed.
Why this matters
- You could have financial support waiting that you’re entitled to
- Loved ones may struggle to claim if policies aren’t easy to trace
- Reviewing cover helps ensure it still suits your needs and lifestyle
How to protect your policy
✅ Review existing life insurance and income protection regularly
✅ Tell your provider when you move home or change name
✅ Keep policy info safe and share details with a partner / executor
✅ Work with a regulated adviser to track and review cover
If you’re in Newcastle, North Tyneside, or Northumberland and want help reviewing or updating your life cover or income protection, I can help make sure everything is up-to-date and aligned with your mortgage and family needs.
Important
As with all insurance policies, conditions and exclusions will apply.
Your home may be repossessed if you do not keep up repayments on your mortgage.
