The French law of 13 June 2014, taking effect on 01 January 2016, defined the rules for qualifying a life-insurance contract as unclaimed.
The inactivity of a contract depends on several criteria:
- Is the policyholder alive or deceased?
- Has the policyholder kept in contact with the insurance body?
The policyholder is alive
A life insurance contract is considered as unclaimed if the contract has reached its term and if the capital has not been claimed by the policyholder or the beneficiary/beneficiaries.
This contract is declared unclaimed by the insurance body. The insurance body keep it for 10 years.
The policyholder is deceased
A life insurance contract is considered as unclaimed as soon as the insurance body becomes aware of the date of the policyholder’s death.
This life insurance contract is declared as unclaimed by the insurance body. The insurance body keep it for 10 years.
For life insurance contracts with a policyholder who has been deceased for less than 10 years, the Association for the management of information on insurance risk (AGIRA) considers information requests from all insurance bodies. This request must be made via mail to: http://www.agira.asso.fr/content/comment-saisir-lagira
After a 10 year period, if the search for beneficiaries is unsuccessful, the insurance bodies will, between July and December 2016, send the money coming from unclaimed life insurance contracts to Caisse des Dépôts.
An online search service from Caisse des Dépôts will be made available to you from January 2017 to make finding and recovering unclaimed amounts easier. This site will be available after all the amounts have been deposited by the financial institutions.