Many of us join loyalty schemes and accrue a number of points that can be exchanged for products or services. These points have a value and should be included in a digital legacy with your will.
Most loyalty point schemes state in the terms and conditions that these points are not transferable after death, but we are beginning to see this changing for individual circumstances.
I have spoken to bereaved people recently who have had the job of trying to reclaim points of a family member. Some companies have been helpful, others have not.
Recently Katie Morley (consumer affairs editor for The Telegraph) published an article about air miles. You can read her article here. Clearly, the rules for each company are going to be different as there is currently no legislation about inheriting loyalty points. Air miles can accumulate a considerable value, especially if you travel a lot.
If you are a company and are considering starting a loyalty scheme then we would encourage you to think about putting a legacy policy in place, so that users are clear about what they need to do to ensure that the value can be reclaimed by executors.
Of course, we would much rather that you used the points, especially in the case of air miles, perhaps you have more than you think and can book a trip somewhere soon!
Do let us know if you have any experience of inheriting loyalty points or not being able to claim them, as it helps us to give accurate advice.