HC Deb 19 July 1956 vol 556 c1354
2. Captain Corfield

asked the Chancellor of the Exchequer whether he is aware that the free policy value as shown on industrial life assurance policies is open to misconstruction; and whether he will take steps to ensure that it appears on the face of such policies that this value in no way represents a surrender value at any particular date, but only a sum which, under certain circumstances, is payable at death in lieu of the value of the policy.

Mr. H. Brooke

No, Sir. I have no reason to think that such misunderstanding is at all common.

Captain Corfield

Will my right hon. Friend reconsider that point, because I can assure him that there are cases where the difference between the two values is very considerable, and it produces hardship when these misunderstandings occur and people think that they will be able to rely on a very much higher value than in fact they will get? The value shown on the face of many policies which I could produce to my right hon. Friend is misleading.

Mr. Brooke

The significant thing is that we have had very few complaints coming to us about this matter. If my hon. and gallant Friend has information of cases where difficulty has arisen, I should be very grateful if he would send it to me.