Life Assurance policy

[Firstclass]

I would appreciate any advice please.

If a life insurance policy is sold to another life provider, what rights and notification should I expect?

( I have noted recently that my DD has recently changed to a new company but I have not received notification from originator or new provider). Surely in the event of a claim, paperwork may be misleading as to whom a claim should be made?

[PallasAthena]

Is it definitely a transfer to a different insurance company or could it be the same company and it has changed its name?

What is the name of the insurer shown on your policy and what name is now showing on the DD?

[Firstclass]

is it definitely a transfer to a different insurance company or could it be the same company and it has changed its name?

What is the name of the insurer shown on your policy and what name is now showing on the dd?

aig - royal london

[Firstclass]

[QUOTE=Firstclass;n1693783] aig - royal london

AEGON sold its portfolio to Royal London. However, no communication from either party to policy holder of this transfer. I wonder what my rights are please?

[PallasAthena]

Aegon sold their life assurance business to Royal London on 1st July 2024 after getting approval from the High Court.

Royal London's website gives details of the acquisition here....

Royal London has acquired Aegon's UK individual protection policies - Royal London

It includes this statement: "There'll be no changes to your policy. Your policy number, benefits, conditions, and how much you pay will all stay the same. You'll also start to see communications in Royal London branding going forward. You don't need to do anything if you pay for your policy by direct debit, your payment details will have been updated automatically. Your bank statement will now show future payments as Royal London, instead of Scottish Equitable or Aegon.".

Aegon announced it from their side here....

Individual protection transfer | Helping you live your best life | Aegon

There are detailed procedures that insurers have to follow that include sending notification to every policy holder. So yes you should have received a formal notification, although they are usually very dull and legalistic and tell you little. It would not have been approved by the High Court and Regulators if they hadn't sent out the notifications.

Who knows what happened to yours. Lost in the post by Royal Mail? Have you changed address and and not told them?

What rights do you have? None. What rights were you hoping for? The transfer didn't need your agreement or approval. I suppose you could tell them you never received the notification and ask for a copy but personally I wouldn't bother.