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Life insurance policy whose capital has not been paid out upon expiry of the term fixed in the policy or upon the death of the insured person.

Life insurance policy which has expired and whose capital has not been claimed by the policyholder or the beneficiaries. Or, in the event of the policyholder's death, the life insurance policy is declared "unclaimed" when the insurance company learns of the date on which the policyholder died.

When the insurance company declares a policy "unclaimed", it must make active efforts to track down the beneficiaries.