Specific Risk Cover
Insurance solutions for a specific risk, such as a missing will or missing beneficiary. This covers both personal representatives and the beneficiaries of the estate.Find out more
The deceased had sadly lost contact with their child after they moved abroad in the 1960s to start a new life. There was frequent contact to start with, but over the years this had lessened, and in the last 20 years, all contact was lost. The deceased had sadly presumed the child had passed away.
The executor of the estate wanted to ensure the beneficiaries named in the deceased’s will were protected, so took out a legal rights indemnity policy in case the estranged child was in fact alive. This meant that if the child ever came forward in the future and claimed their legal rights to the deceased’s estate, the insurance policy would cover the amount owed. By taking out this policy, the executor was able to put the child’s entitlement back into the “pot” and distribute it to the other known beneficiaries.
Years later, the estranged child was able to track down their family through social media, having lost their original address book during a house move. Upon discovering that their parent had died, the child made enquiries about the estate and if they were to benefit. The executor of the estate contacted the insurer, and the claim was settled for around £5,000, which was paid to the child.
The legal rights policy proved to be a remarkable asset, not only for the executor, but also for the other beneficiaries who were spared the burden of repaying their inherited assets to satisfy the claim. This proactive measure ensured the protection of all parties involved and paved the way for the successful conclusion of the estate settlement, rekindling a sense of closure and unity among the once-disconnected kin.