Unclaimed Funds: How Israelis Can Find Lost Inheritance After Loved Ones Die
Translated & summarized from NEWSru Israel by baba
Eldar Portnov, owner of BestSeller insurance agency, helps families find forgotten financial assets like pensions and insurance policies left by deceased relatives in Israel. His agency discovers unknown savings in about one-third of cases, sometimes substantial sums. While Israel's "Har HaKesef" system aids in locating accounts, claiming funds requires navigating specific procedures. Portnov's agency assists in recovering these assets, including survivor benefits and mortgage payments, urging people to check for entitlements even years after a death.
The story in 5 lines · by baba
- BestSeller insurance agency helps families find forgotten financial assets of deceased relatives in Israel.
- About one-third of cases handled by BestSeller reveal previously unknown savings or insurance policies.
- Israel's "Har HaKesef" system helps locate accounts, but claiming funds requires navigating specific procedures.
- BestSeller has helped families recover pensions, survivor benefits, and even pay off mortgages.
- It is advisable to check for entitlements even many years after a loved one's death.
Eldar Portnov, owner of the BestSeller insurance agency, highlights a difficult but crucial aspect of his work: helping families recover financial assets left behind by deceased relatives, sometimes decades after their passing. Portnov's agency frequently encounters situations where individuals have died, leaving behind pensions, savings accounts, or insurance policies that their families are unaware of.
According to Portnov, his agency finds previously unknown assets in about one-third of cases. These can include substantial sums, such as when children living abroad are unaware of their parents' Israeli pension funds. While Israel has a state system called "Har HaKesef" (הר הכסף) to help locate such accounts, Portnov emphasizes that actually claiming the funds requires navigating specific documentation and eligibility criteria, which differ for designated beneficiaries, heirs, and dependents eligible for survivor benefits.
BestSeller has assisted families in recovering pension savings, obtaining survivor benefits through both pension funds and Bituah Leumi (National Insurance), and even using life insurance payouts to fully cover outstanding mortgages for bereaved families. Portnov stresses that even if a loved one died many years ago, it is still worthwhile to investigate, though timelines and payout possibilities may vary. He advises that financial planning is not just for oneself but also a responsibility to loved ones, and his agency helps families understand their financial rights and manage claims with financial institutions.