What happens to my investments if I pass away?

When an individual who has invested with Scottish Friendly passes away, the fate of their investments depends largely on the specific policies and products they hold, as well as how their finances are structured. Generally, Scottish Friendly offers various investment options, including life insurance, Individual Savings Accounts (ISAs), and other investment products. In the case of life insurance policies, the payout typically goes directly to the named beneficiaries. This means that the funds would not form part of the deceased's estate and would not be subject to probate, allowing the beneficiaries to receive the money more swiftly. For investment products such as ISAs or savings plans, if the account holder passes away, the investment may still be managed by Scottish Friendly in line with the terms of the policy or account. It is important for the beneficiaries or executors of the estate to understand the specific rules governing the investments to determine how they will be managed or disbursed. Additionally, it is often advisable to review beneficiary nominations or expressions of wishes associated with the investment accounts to ensure that they reflect the individual's current intentions. For comprehensive guidance on what happens to specific investments, it is always beneficial to consult the documentation related to those investments or refer to the current Scottish Friendly web page, which may contain further information on their processes and procedures regarding such situations.