HC Deb 14 November 1929 vol 231 cc2222-3
90. Sir BASIL PETO

asked the Financial Secretary to the Treasury whether his attention has been called to the fact that notices are only delivered at houses where premiums are collected and consequently insurance policies are alive; and, as nearly 3,000,000 policies issued by one company, the Prudential, have lapsed within the last three years, will he take some steps to make known to the holders of such lapsed policies their rights under the Industrial Assurance and Friendly Societies Act, which was intended to benefit them?

The FINANCIAL SECRETARY to the TREASURY (Mr. Pethick-Lawrence)

The answer to the first part of the ques- tion is in the affirmative. With regard to the latter part, the matter was fully considered on the Committee stage of the Industrial Assurance and Friendly Societies Act, 1929, when it was decided that it was impossible to give individual notice to owners of lapsed policies, whose present addresses were usually unknown.

Sir B. PETO

Has the right hon. Gentleman considered putting notices in all post offices, in order that the poorer members of the public coming to use those post offices may see what are their rights in this respect?

Mr. PETHICK-LAWRENCE

The matter will be considered, but I cannot hold out any hope that that will be actually done.

Sir B. PETO

Is the hon. Gentleman aware that these lapsed policies are worth a small expenditure of printing?

Mr. LAMBERT

Is the statement in the question accurate, that nearly 3,000,000 policies have lapsed within the last three years?

Mr. PETHICK-LAWRENCE

I could not say whether that statement is accurate or not. I gave an affirmative answer to the first part of the question, but as to the actual number I should not like to express a definite opinion.

Lieut.-Commander KENWORTHY

Is the hon. Gentleman aware that when the Industrial Assurance and Friendly Societies Act was going through an undertaking was given that, wherever possible, the Post Office would notify these policy holders?.

Mr. PETHICK-LAWRENCE

There can be no question of notifying individual holders, because their addresses cannot be found. As to the issue of a public announcement, I have said that I will consider that suggestion, but 1 wanted to convey that I am not pledging myself to it.

Sir WILLIAM DAVISON

Is it not a fact that after payments for one or two years at most, fully-paid Prudential policies are given to the persons insured?