For several years now, a Public register The information is collected there by the insurance companies, allowing interested parties to easily check whether the deceased person had a policy in force.
Why was this Register created?
It may seem surprising, but:
In many cases accident and life insurances remain uncollected. by its beneficiaries.
How can this be? Basically, because nowadays, many bank cards are associated with small accident or life insurance policies, for example.
This Register of Insurance Contracts for Death Coverage was created thanks to Law 20/2005, with its regulatory development in 2007, by means of RD 398/2007. The reason for its creation: that insurance companies enjoyed an enormous benefit from having underwritten life insurance and yet not having to pay the sum insured, as no one was claiming these amounts.
How does the Registry work?
The same is available for consultation:
- In life (through briefing notes), or
- After the death of the insured person: by filling out the model 790.
We will discuss the latter case. There are several deadlines affecting your application:
- 15 working days must elapse after the death (by providing death certificate and completed application form)
- The Registry has 7 days to reply to the request for information.
- 5 years the information remains in the Register, after the death of the insured person.
What information does the Register provide?
Certifies the number of policies life and/or accident insurance that the deceased had in force at the time of his death, as well as the company which guaranteed these amounts.
In this way, the interested party can contact the company and request the payment of the amounts to the insurance beneficiaries.
With regard to the beneficiaries, it is important to note that, depending on who is the person consulting the Registry, the Registry will give one information or another. That is:
- if the applicant is a beneficiary, it will tell you which life insurance policies he/she is the beneficiary of
- if you are not a beneficiary, it will only tell you which life insurances are in force, but will not tell you who the beneficiaries are.
By what means can this information be requested?
These are the means that can be used
- in person (at the Territorial Offices of the Ministry of Justice or at the Civil Registries),
- on the web: digital certificate required
- by ordinary mail.
The fact is that the creation of the Register has been a very positive measure, since up to 30% of the applications have a favourable outcome. These are insurances that, in many cases, would not have been charged if this possibility had not existed. The only downside is that there is a cost: almost 4 euros for requesting the information.
If you would like us to offer this type of consultancy in all your insurances, don't hesitate to contact us. At PIB Group Iberia your life insurance at the best price
