Terre d’Epargne-Life Insurance: Are You Beneficiaries of Dormant Contracts Without Knowing It? –PATRIMOINE24-All news about wealth management


Beneficiaries of dormant life insurance policies can perform a search. Insurance companies’ obligations have been strengthened to combat dormant life insurance policies. In addition, several systems have been introduced to allow potential beneficiaries to exercise their contractual rights.

Life insurance policyholders specify one or more beneficiaries. This clause should be as accurate as possible, but the contract manager may not pay the capital.

A situation explaining the rehabilitation of a life insurance policy

In some cases, the insurance company may not be able to submit a life insurance policy in accordance with the beneficiary clause validated by the subscriber. This is sometimes inaccurate and makes it difficult (or even impossible) to identify the recipient of the saved capital. Therefore, it is advisable to provide the contact details of the parties involved (name, name, place of birth and place of birth, status or relationship, contact details, etc.) as clearly as possible and check for updates on a regular basis. .. if needed.

In other cases, the insurance company is simply not informed about the death of the subscriber. In fact, it is essential to send a copy of the death certificate to the insurance company in order to claim the beneficiary clause for the policyholder’s death.

Intervention by insurance companies to send life insurance contracts

The insurance company that receives the death certificate must contact the specified beneficiary of the life insurance policy within 15 days. The June 13, 2014 law, known as the Eckert Act, installed an important weapon for combating dormant contracts. It relies primarily on the cooperation of insurance companies. To obtain information that you did not receive directly, you should specifically consult with INSEE, at least once a year with the national identification directory of a person born in France. This consultation allows them to cross-reference the portfolio of customers with life insurance policies and the files of those who died that year.


Compliance with this obligation can be confirmed by the Prudential Control and Resolution Authority (ACPR). Therefore, at the beginning of April 2022, the Bank of France-backed government imposed a fine of € 8 million on the insurance company. The latter did not adequately implement measures to find beneficiaries of life insurance policies.

Despite the regulatory changes, the amount of funds that are not returned to the beneficiaries remains important. At the end of 2020, 54,898 life insurance policies that had not been used for 10 years were transferred to the Caisse des Dépôts (CDC) for € 172 million. When the law came into force, the number of contracts reached 408,485 for 844 million euros. Therefore, since its implementation, more than 160,000 contracts have been transferred for € 1.5 billion.

To know

If the contract is settled without being sent to the beneficiary, the funds will be automatically transferred from the insurance company to the Caisse des Dépôts (CDC). This transfer will be made 10 years later and the funds will be retained for 20 years. For 30 years, the property is guaranteed to be acquired by the country without the explicit owner or its heirs.

Steps taken to verify if you are the beneficiary of the contract

If you have any doubts about the possibility of a dormant life insurance policy, you can start two steps. Start by calling Aguila (Insurance Risk Information Management Association) for free. The latter can search for contracts for 10 years after the death of the subscriber, or 10 years from the date the insurance company learned of the death of the holder. To do this, the applicant must edit the file containing all the information related to the beneficiaries and subscribers and attach the latter death certificate. Information can be filled out online or mailed. Agira processes your request and sends it to your insurance company within an average of 15 days.

If the process with Agira does not give satisfactory results, the contract may be suspended for more than 10 years. For these contracts, Caissedes Dépôt set Consignations has set up a service called Ciclade.fr. You can search for and collect the amount of money sent to the CDC and resulting from a life insurance policy signed by the Metropolitan France or overseas departments and groups. This free, publicly available service can also be applied to inactive bank accounts and company savings plans. Starting October 2021, the process of returning capitalized or bearer bonds is also available online at Ciclade.fr.

The main things to remember

  • Many life insurance policies are dormant because the insurer does not know the beneficiary’s identity or is informed about the death of the subscriber.

  • Thirty years later, dormant funds will be acquired by the country.

  • You can follow the steps from the Agira or Cyclade.fr site to see if you are the beneficiary of the contract.

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