NS&I: What happens to Premium Bonds when you die? How Britons can receive money

This means they could still win prizes, but understandably, individuals will want to know what happens if this is the case.

Once NS&I has been informed of a person’s death, any prizes won are to be paid by prize warrant to the person entitled to the money after a claim has been completed.

The organisation holds on to any prizes won by the customer before then, and will send them out once the claim is completed.

It is worth noting, though, that these prizes cannot be paid electronically, nor can they be consolidated to be paid at the end of the 12 month period.