How do I know if I am the beneficiary of a life insurance policy?

How do I know if I am the beneficiary of a life insurance policy?

The capital saved on a death insurance account remains owed by the insurer to the designated beneficiaries. However, sometimes the latter were not made aware. On the death of one of their clients, insurance companies are under a legal obligation to find beneficiaries of life insurance contracts (which includes life insurance). If, despite their research, you have not been contacted and believe that a deceased relative could have made you the beneficiary of their death insurance, you can undertake your own research.

AGIRA (Association for the Management of Information on Risk in Insurance) should be contacted, since it lists all the insurance companies offering this type of product. Subsequently, she asks all insurers likely to have offered death insurance to a person to communicate to her the existence or not of a file within her establishment.

If after 10 years no beneficiary has come forward, the funds are transferred to Caisse des Dépôts. You can check their website to find out if life insurance has been purchased for your account. After an additional 20 years, the death benefit is definitively assimilated by the State and integrated into the Reserve Fund for pensions. You therefore have a total of 30 years to assert your rights to death insurance.
What is death insurance for a mortgage?

Very often, credit institutions impose security guarantees to protect the amount of the loan granted. Death insurance is one of the guarantees almost always requested by creditors to cover the risk of the borrower's death before he has repaid his loan. The banks then ask for a death insurance certificate, taken out with an independent insurer or the group insurer, internal to the credit institution.

By contributing to the chosen insurance company, the borrower can be sure that his loan will be repaid by the company in question even if he dies. This allows 2 major advantages:

    access to credit is facilitated, as is a larger contribution;
    the choice of the heirs to recover the gross estate assets is made easier, since the debts on the mortgage will not exist and will not decrease the amount of the net estate assets.

As part of a provident contract linked to a mortgage, it is the credit institution that recovers the death benefit if the borrower dies prematurely. It is therefore the insurer mandated to take out the loan who gradually repays the loan to the bank.