Industrial Branch (IB) Penny Policy Search

Aviva, LV=, Phoenix Life [Britannic Assurance; Pearl Assurance, Swiss Life]; Royal London [Refuge Assurance, Royal Liver, Swiss Life] Prudential, United Friendly and Victoria Friendly issued millions of Industrial Branch or Penny Polices, a large percentage of which have never been paid out.

These policies, designed to help with retirement, funeral expenses & death benefits, were designed to pay out after decades of small premiums, and so were often forgotten by beneficiaries and heirs.

Liverpool Victoria Friendly Society reports 1.1 million policies issued between the 1920s and 1960s are unclaimed. They are now worth up to £500 each.

Royal London issued 500,000 policies, but 464,000 of those never claimed payment.

To search for a lost or unclaimed Industrial Branch Penny Policy complete the form below:

Many insurance companies used to sell insurance policies that cost just pennies each week. Referred to as "Penny" insurance and IB "Industrial Branch" policies, they were generally sold door-to-door or at local branches. Millions of beneficiaries and heirs have failed to claim these low premium insurance policies, now worth up to £500.

LV= Liverpool Victoria reports 1.1 million policies are lost and unpaid. Royal London has 464,000 lost policyholders. Britannic Assurance, now Phoenix, issued 800,000 IB policies. Other issuers include Aviva, Pearl, Swiss Life, Royal Liver, Refuge, Prudential, United Friendly, Victoria Friendly and others.

Industrial Branch Penny Policy Search

One-in-four workers have lost or left behind at least a portion of their retirement savings. The Association of British Insurers (ABI) found 800,000 defined benefit pensions worth £9.7 billion have gone unclaimed by owners or heirs. Including lost public sector pensions and employer trust-based schemes, The Government’s Pension Tracing Service maintains a database of 320,000 pension scheme administrators to assist with reclaiming your lost money.

Apply online: UK Pension Search

The Independent Dormant Assets Commission recommends expansion of the Dormant Bank and Building Society Accounts Act to include pensions, insurance, securities and investments.

Fund investments would be coded dormant if there has been no account activity or owner contact for 12 years; cash dividends on inactive accounts go dormant after six. Pensions and insurance policies go dormant seven years after the owner is deceased.

To view the proposal go to:
Dormant Assets Scheme 2019

Industrial Branch (IB) Penny Policy Search

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