Loyalty Points on Death

Loyalty Points on Death

We live in a world where Loyalty Scheme and Points are everywhere. You
will probably collect points when you do your weekly shop, book a
hotel and when you fly. Each scheme is different, however the points
you collect can have a significant value attached to them. So, why do
we not class them as an asset?

Each loyalty programme has its own policy when it comes to bequeathing
loyalty when one of their members dies. Some are easier than others.

Tesco Clubcard Points and Sainsburys Nectar points can be transferred
to another account on death. The Co-op will post a cheque to
relatives and Morrisons More Scheme can transfer points to an
executors’ account. M&S Spaks points can also be transferred on death
if the gift is left in a Will.

Boots Advantage Points and M&S Sparks points can also be transferred
on deeath but the gift will need to be made in the Will. Avios points
flights scheme and Virgin Atlantic Flying Club ‘Miles’ can be gifted
in a Will and Marriot (Hotels) rewards and Intercontinental Hotels
have provisions to allow the transfer of points on death as well. It
is important to check the terms and conditions in relation to the
points, for example Intercontinental Hotels will only allow the
transfer if the request is made within a year of death.

Unfortunately not every scheme will allow you to pass on this valuable
asset and the points, or miles, you have collected will die with you.
If you’re a member of Britich Airways Executive Club, Costa Club or
Ikea’s scheme you may wish to start spending your points. These
schemes will not allow you to transfer or bequeath your loyalty on
death.

As with many aspects of modern life these accounts will comes with
usernames and passwords. It may be a good idea to leave your usernames
and passwords to any loyalty schemes with your will, then your loved
ones will be aware of your accounts and what you hold.