Step 3: deciding what to do next
Once you’ve sorted out the paperwork and have a claim form, you’ll need to decide what to do with the money.
What are my options?
On the claim form, you will be asked whether you want the money reinvested, transfered or repaid. Some investments may be transferred into another persons name. If you want to reinvest the money into another NS&I product, we will send you brochures to help you choose the right one for you.
Premium Bonds
If the NS&I savings you are claiming include Premium Bonds, you can reinvest the Bond amount in another one of our products. Or you can continue the holding in the deceased’s name. Bonds will remain in each prize draw for up to 12 months after the date of the customer’s death.
To keep the Bonds invested, you’ll need to send the Bonds to us along with the completed claim form. Bonds can’t be transferred into another person’s name but will be kept on record for 12 months and prizes will be sent to the person who is entitled to the money. If the Bonds can’t be found at the time of the claim but are found at a later date, you’ll need to destroy them.
At the end of 12 months, the value of the Bonds will be paid out to the person who is entitled to the money. You can apply for repayment at any time during this 12-month period.
If you choose to have the value of the Bonds repaid immediately, the Bonds will be eligible for prize draws only for the calendar month in which the repayment takes place.
Other ways to save and invest
NS&I offers a unique range of products to suit different people’s needs. Our range of investments allows you to invest up to £93,000 tax-free and, as we’re backed by HM Treasury, you can be sure that your investment is 100% secure.
To find local Independant Financial Advisors who can help you with financial decisions.
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