Investigating if mother's wealth lies hidden in a missing 1972 bond? Digger Probing for Missing Assets from 1972.
Going on a Financial Adventure to Unearth a Forgotten Asset
Here's the story of an individual on a quest to uncover a long-lost investment bond meant for his 89-year-old mother.
In the distant past of 1972, his mother invested £100, roughly equivalent to £1,160 today, in a property bond with the now-defunct insurer Welfare Life Assurance Company. This type of life assurance policy was designed to grow in value over time and pay out a sum to his father upon her death.
After multiple changes of hands among companies such as London and Manchester Assurance Company, Friends Life, and finally Aviva, the bond mysteriously vanished. The reader contacted Aviva in August 2024 but received no response after sharing initial information.
His mother is keen to cash out the bond if it's still active. Let's dive into the process of tracking down this long-lost investment and resolving the family mystery.
The Trail: From Welfare Life to Aviva
The journey of this bond began when the reader's mom made a decision to provide for her husband – the reader's father – with a life assurance policy. Purchasing 91.2 shares in a property bond (an investment fund focusing on buying, selling, and renting property), she hoped the investment would provide a comfortable future for her family.
Over the years, Welfare Insurance Company became a subsidiary of the London and Manchester Assurance Company in 1976, then part of Friends' Provident in 1998, and was acquired by Aviva in 2015.
Unfortunately, the reader's mother doesn’t recall the specifics of the bond and what she signed up for. Nevertheless, she still has the original document, which indicates the bond has a surrender value, entitling her to cash it out and receive at least 95% of the value of her shares.
As the reader has power of attorney, he took on the role of detective, reaching out to Aviva for assistance in locating the long-lost policy. Aviva responded, requesting additional information, but communication seemed to grind to a halt afterward.
Finding the Forgotten Bond
To locate the bond, follow these steps:
- Contact the Current Holder Since Welfare Life Assurance Company is no longer in operation, Aviva is likely to be the custodian of the bond. Reach out to Aviva’s customer service or estate planning department for assistance.
- Prepare Necessary Information Gather relevant documents such as the original bond certificate, proof of identity, and any previous correspondence or policy numbers.
- Complete Aviva's Claim Form Once contacted, Aviva will guide you through the process of claiming the bond, which may involve filling out a claim form.
- Assessment and Payment After verifying your identity and entitlement, Aviva will assess the claim and make arrangements for the bond’s value to be paid out.
If successful, the reader can cash out the bond with a comfortable return, settling the mystery of the long-lost life assurance policy once and for all.
Update on the Lost Bond
After reaching out to Aviva for help, the bond was traced, and the necessary steps were initiated to cash it in. A spokesperson from Aviva expressed their pleasure at being able to assist in resolving the reader's issue and released the funds according to his and his mother's wishes.
The policy has been returned, providing the reader's family with a 900% return on the initial investment made in 1972. It falls just short of matching inflation over the past 53 years, but it's a solid result nonetheless. The reader's family can now put this mystery to rest and enjoy the financial reward from their long-lost investment.
Sources used:
- Sky News
- Gov.uk
- Aviva
- Investigating the lost investment bond, the reader considered various strategies for his search, including researching personal-finance options like pension plans or insurance policies, as well as exploring possibilities in real estate, such as purchasing or renting property, given that the initial investment was in a property bond.
- During the process of tracking down the long-lost life assurance policy, the reader discovered that investing in bonds can be a lucrative avenue for portfolio diversification, as they offer relatively low risk and steady returns, unlike some other forms of investing.
- With the successful recovery of the lost property bond, the reader gained a new appreciation for the world of finance, particularly in relation to managing and growing personal wealth, and was inspired to apply the lessons from this experience in his future financial endeavors, whether that be supporting his own family or enabling other families to do the same.
