Symponia is calling for life offices who sold pre-funded long-term care plans to help families of policyholders track down forgotten or unknown policies.
The body for care fee advisers has warned many people could be paying for care fees twice over as policies remain unclaimed.
In the early 90s, providers such as BUPA, Aviva (formerly Norwich Union), Scottish Widows and PPP Lifetime Care, sold an estimated 44,000 policies to people mainly in their 60s, to meet the cost of care fees in old age.
The number of dormant policies could be significant with the majority of policyholders now in their 80s (or older), many with dementia, and not having told anyone about the policy's existence, Symponia has warned.
Symponia is urging providers to follow the example of Partnership and Friends Life (formerly PPP Lifetime Care.) Both firms have pledged support to help track down old policies and carry out rigorous checks on clients' behalf.
Janet Davies, managing director of Symponia said: "Having written over 400 pre-funded policies during the 90s, I know the reasons why people took out these policies and it helps me to understand why it is so important to include a search for these potentially forgotten plans now.
"Working with providers like Partnership and Friends Life, Symponia is determined to pioneer a solution going forward. We hope other providers will appreciate the seriousness of this situation so that together, we can put a process in place so that every person applying for an Immediate Needs Annuity (regardless of whether it is through a Symponia member) has the opportunity and peace of mind to know that existing long term care insurance policies are not only uncovered, but claimed on."
Favorable tax treatment
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'
Active Wealth in liquidation