Scottish Widows payout

There is £50 million waiting to be given to thousands of the company's policy holders - and they have barely two months to put in a claim.

The money dates back nearly ten years to when the mutual insurance company was turned into a plc.

At the time its customers were given a payment for this demutualisation. But 24,000 of them have still not got the money as Scottish Widows - now owned by Lloyds - has not been able to track them down.

Recently one policy holder was traced who was entitled to more than £100,000. There is another policy holder entitled to £85,000, yet to be claimed.

Money Box's Charlotte McDonald explains who is eligible.

This item was first broadcast on Radio 4's Money Box on Saturday, 16 January 2009