Dormant life policies

Dormant life assurance policies are those policies that have not been collected by the beneficiaries and lie dormant at insurance undertakings until they become time-barred. These may be either policies on the death of the insured, of which beneficiaries were not aware, or savings policies which, upon maturity, were not collected for various reasons.

The rights arising from life policies are barred after 10 years from the event:
• death of the insured;
• contract maturity.
After that deadline undertakings must assign the relative amounts to the Dormant Accounts Fund set up within CONSAP.

The time limit of 10 years applies to the events occurred after 20 October 2010.

IVASS suggests two ways:
1) contact the "search service for life insurance covers" of ANIA ( the National Association of Insurance Undertakings) which provides applicants (for example the spouse of a deceased person) information on the existence of life covers, at Italian undertakings, relating to allegedly insured deceased persons.
The search verifies if the name of the applicant is among the names of the beneficiaries of the policy. Therefore, we suggest to make searches for each potential beneficiary. For example: if the deceased family member was the father of two children, it is advisable that both the wife and each of the two children request the search, so as to expand its scope.
2) contact the insurance intermediary, the bank or the insurance undertaking the family member was a customer of, asking for information – ideally in writing - on the existence of the policy. Download a facsimile request. This information can also be requested from the contact points available on the websites of Italian insurance undertakings.

For any further information and assistance you can call IVASS’ Consumer Contact Centre at the free phone number 800486661, from Monday to Friday 8.30 to 14.30

When you take out a life policy it is for pension or saving purposes, thinking about your future and that of your loved ones.

To be sure that the beneficiaries receive the amounts due it is advisable to mention them with their own name, without using general indications (such as for example legitimate heirs, spouse, children and the unborn….) and provide the undertaking with all the information (address, telephone number and/or e-mail address) necessary to contact them in case of death of the insured.

If you do not want that the beneficiaries become aware of the existence of the policy in advance, it may be useful to inform a third party who can inform the beneficiaries when the insured event occurs.


  1. EEA insurance undertakings operating in Italy - new regulations on dormant life assurance policies pdf 208.2 KB Letter to the market of 1st April 2019
  2. Thematic review on dormant life policies - "awakening" of dormant policies (update of 31 January 2019) pdf 306.6 KB
  3. Outcome of the checks on the tax codes of insureds of potentially dormant policies zip 397.6 KB Letter to the market of 3/12/2018
  4. Dormant life assurance policies. Investigation update. zip 101.6 KB Letter to the market of 26/09/2018
  5. Investigation into dormant life assurance policies. EEA undertakings operating in Italy zip 242.2 KB Letter to the market of 25/09/2018
  6. Dormant life assurance policies. New cross-check on tax codes against the Tax Register pdf 98.4 KB Letter to the market of 03/09/2018
  7. Thematic review on dormant life policies - "awakening" of dormant policies pdf 284.0 KB
  8. Outcome of the checks on the fiscal codes of potentially dormant insureds pdf 29.2 KB Letter to the market of 06/04/2018
  9. Dormant life assurance policies. Request to undertakings to submit an action plan pdf 225.2 KB Letter to the market of 29/12/2017
  10. Dormant life policies. Request for the policyholders’ fiscal codes to check deaths zip 351.5 KB Letter to the market of 14/12/2017
  11. Thematic review on dormant life assurance policies pdf 641.7 KB
  12. Dormant life assurance policies - Tips for consumers pdf 34.5 KB
  13. Thematic review on “dormant” life policies zip 168.2 KB Letter to the market of 8/2/2017
  14. Information Sheet - Thematic review on dormant life assurance policies pdf 170.4 KB