§ 64. Mr. Dayasked 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 Tryon5,743 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. DayCan the right hon. and gallant Gentleman say whether any effort is made to collect the premiums before the policies lapse?
§ Major TryonNot without notice.
§ Mr. DayDo these undergo the same strict examination by the Board of Trade as in the case of ordinary life insurances?
§ Major TryonI am not sure whether the hon. Gentleman realises that no Post Office insurance contracts have been entered into since 31st December, 1928.