Missing Beneficiary Indemnity Insurance (MBI) protects Personal Representatives (PRs) from financial risk if a previously unknown or untraceable beneficiary comes forward after an estate has been distributed.
This coverage is particularly important in intestacy cases, where the risk of missing heirs is higher.
Ultimately, MBI provides PRs with financial security and a practical way to mitigate risk. Given that a missing beneficiary can appear at any time, regardless of the estate’s value, PRs should carefully consider obtaining a policy.
While the decision remains optional, the relatively low cost of MBI offers significant protection against potentially costly claims. In cases of uncertainty, obtaining a quote is a prudent step to assess affordability and risk.
You can read our latest blog on MBI here.
Anglia Research is authorised and regulated by the Financial Conduct Authority for indemnity insurance business and can thus assist with requests for insurance cover; just get in contact to find out more.
Anglia Research is an award-winning probate genealogy and people tracing firm offering a range of services that assist Private Client practitioners with estate administration and Court of Protection matters, such as:
- Finding missing beneficiaries named in a will
- Locating legally entitled relatives in intestacy cases
- Family tree verification and full Statutory Will research
- Providing fixed-cost international bankruptcy searches
- Undertaking financial asset and liability checks in the UK
- Accessing missing beneficiary indemnity insurance quotes
Feel free to contact our dedicated Private Client team who deal solely with instructions received from legal professionals on legal@angliaresearch.co.uk or call on 0800 033 4034.
This article was published by anglia research as part of their advertising agreement with Today’s Wills and Probate.
The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
