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According to the company, when a person dies, interest will still be paid on their account until someone else takes the step to close it. This is likely to be the executor of the individual’s will or an administrator if no will was in place.

t is likely, then, that someone will want to claim the savings of a deceased person so the relevant beneficiary can receive the sum.

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They will also need the individual’s personal details to hand when making their claim.

The details individuals are likely to need when claiming NS&I savings are as follows:

• The customer’s personal details (full name, address, date of birth, date and place of death)
• Spouse name (if applicable)
• Full name of the executor(s) if there is a Will, or administrators if there is no Will (if they’re obtaining a Grant of Administration or Confirmation of Executor Dative)
• Type of NS&I account(s) the customer held
• Details of the person who is making the claim
• Bank account details to make the payment into

After a person has passed away, their Premium Bonds can stay in the prize draw for a total of 12 months.

This means they could still win prizes, but understandably, individuals will want to know what happens if this is the case.

Once NS&I has been informed of a person’s death, any prizes won are to be paid by prize warrant to the person entitled to the money after a claim has been completed.

The organisation holds on to any prizes won by the customer before then, and will send them out once the claim is completed.

It is worth noting, though, that these prizes cannot be paid electronically, nor can they be consolidated to be paid at the end of the 12 month period.

If the person who has died has won a prize and has received a prize warrant, some may be confused as to what to do next.

But NS&I has thankfully explained the matter further.

Its website states: “Please send the prize warrant back to us and we’ll reissue it to the person entitled to the money, once we’ve completed the claim.

“We’ll also hold on to any other prizes the customer wins until we have completed the claim.

“Then we’ll send any future prizes won by warrant – like a cheque – after each prize draw to the person entitled to the money.”

For funeral notices in your area visit funeral-notices.co.uk

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