HC Deb 25 July 1938 vol 338 c2707
64. Mr. Day

asked the Postmaster-General how many life assurance policies issued by the Post Office Savings Bank department are still in existence; how many are either endowment or whole-life policies; and how many life policies have lapsed or been surrendered during the last 10 years?

Major Tryon

5,743 life assurance policies issued by the Post Office Savings Bank were in existence on 30th June, 1938. Of these 1,674 were endowment policies and 4,069 whole-life. During the 10 years ended 30th June, 1938, 80 policies lapsed and 1,245 were surrendered for a cash payment.

Mr. Day

Can the right hon. and gallant Gentleman say whether any effort is made to collect the premiums before the policies lapse?

Major Tryon

Not without notice.

Mr. Day

Do these undergo the same strict examination by the Board of Trade as in the case of ordinary life insurances?

Major Tryon

I am not sure whether the hon. Gentleman realises that no Post Office insurance contracts have been entered into since 31st December, 1928.