§ 40. Mr. AMMONasked the Postmaster-General the total number of insurance policies issued through the Post Office, life insurance and endowment insurance, respectively; and what is the actuarial position with respect to such policies?
§ Sir W. MITCHELL-THOMSONThe numbers are as follow: Whole life policies, 19,811; endowment policies, 12,250. There is no separate fund in respect of life insurance contracts granted through the Post Office, as the Act 27/8 Vict. c. 46 created one fund in respect of both deferred life annuity contracts and life insurance contracts. The last quinquennial valuation of the assets and liabilities of this fund showed that the liabilities exceeded the assets; and an amended contingent liability of £244,785 in this respect will, in accordance with Section 3 of the Act 27/8 Vict. c. 46, be shown in the finance accounts for the year ended 31st March, 1928.
§ Mr. SNOWDENIn view of the fact that the terms that are offered under this Post Office insurance scheme are more favourable to the insured person 964 than those offered by the ordinary insurance companies, and in view of the further fact, which has just been given in answer to that question, of the very small number of policy holders of the Post Office insurance scheme, will the right hon. Gentleman's Department do something to make this scheme much more widely known?
§ Sir W. MITCHELL-THOMSONI hope the right hon. Gentleman will be god enough to give me notice of any question on this matter. It is a matter which is partly under the administration of the Post Office and partly under the administration of the Treasury, and I think I must have notice of such a question.