You choose a policy, pay the premium and store the documents somewhere safe, believing you have planned for the unexpected.

But whether you have health, term, personal accident or critical illness insurance, have you told your family what each policy covers, where the documents are kept, and whom to contact when they need support?

When the need arises, will your family be able to find and use the protection you have arranged?

The scale of the issue in India is worth noticing. According to information shared by the government in Parliament, ₹8,973.89 crore of life insurance money was lying unclaimed with insurers as of 28 February 2026. The figure covers unclaimed insurance amounts outstanding with insurers and has prompted regulators to step up efforts to help rightful policyholders and beneficiaries trace and recover these amounts. (Press Information Bureau)

When a Policy Exists, but No One Knows About It
Insurance policies can remain unclaimed for surprisingly ordinary reasons.

• A policyholder may change their mobile number, email address or postal address but forget to update their details with the insurer or service provider.
• Policy documents may be misplaced.
• The policyholder may lose touch with the service provider.
• A nominee may not know that a policy exists. Family members may be unaware of financial arrangements made years earlier, including policies that may mature in the future or pay out in the event of a death claim.

The consequence?
A financial benefit intended to support the policyholder or their family may remain unclaimed, leaving the intended protection unused.

Insurance Planning Doesn’t End With Buying a Policy
Insurance should not be treated as a one-time transaction.

Good insurance planning means keeping policy and coverage information organised and making sure the people who may need it know where to find it.

A few simple but important steps can help:

Keep your contact details updated.
Inform your insurer and service provider whenever your address, phone number or email changes.

Review your nominee details.
As family circumstances change, review and update nomination details where needed.

Maintain a record of your policies.
Keep policy numbers, insurer details, premium information, maturity dates and the relevant contact person’s details in one place. Make sure family members can access this information in an emergency.

Review your protection periodically.
A policy bought years ago may no longer reflect your current financial responsibilities or goals. Review your insurance portfolio periodically.

These steps may seem small, but they can make a significant difference when a claim or maturity benefit becomes payable.

The Industry Is Also Moving Towards Better Visibility
The issue has become important enough for the regulator to explore a broader digital solution.

IRDAI’s proposed Public Insurance Registry (PIR) is intended to create a common digital backbone for insurance information, potentially linking details such as policy status, coverage, premiums, claims history, renewal dates and nominee information. It is also envisioned as a way for customers to more easily track policies and identify unclaimed amounts across insurers. (mint)

The development points to a larger shift in the insurance ecosystem: better access to information and better policyholder awareness are becoming as important as selling insurance itself.

Until such systems are fully available, however, policyholders still have an important role to play in keeping their records accurate and accessible.

The conversation should not stop at asking:
“Do I have insurance?”

It should also include:
“Is my insurance organised, up to date, and known to the people who may need it?”

At Growing Solutions, we believe insurance is about much more than purchasing a policy. It is about building long-term protection that remains relevant, accessible and meaningful through changing stages of life.

By helping clients review their policies, understand their protection needs and keep their financial planning organised, Growing Solutions aims to ensure that the protection you’ve worked for is there when it matters most.