A man fakes his death to get back at the insurance company that denied an earlier claim.

Rex Black, a pilot running a private airline, learns he cannot collect insurance when his glider plane crashes because he failed to renew his policy the day before the accident. Infuriated, he formulates a plan for defrauding the insurance company of £50,000. After faking a supposedly fatal crash, he changes his name and appearance and goes to Malaga, Spain, while his wife, Stella, remains in England to collect his life insurance money. Company agent Stephen Maddox investigates, finds everything in order, and puts through Stella's claim. In accordance with Rex's instructions, Stella also goes to Spain. She is distressed to discover that he is posing as Australian millionaire Jim Jerome, whose passport he found and whom he plans to kill off on another policy. Stephen Maddox suddenly appears, ostensibly on a holiday. The three become friendly as Rex tries to discover whether or not Maddox is suspicious. Then, convinced that their scheme will soon be exposed, Rex forces Stella to flee with him to Gibraltar, unaware that Maddox is no longer an insurance man and really is on vacation. Maddox, in love with Stella, follows them, and Rex becomes panic-stricken and tries unsuccessfully to force Maddox's car over a cliff. Stella jumps out of Rex's car as he races to an airport to steal a small plane. Unaware that the fuel tank is almost empty, he takes off and crashes into the sea.