§ Mr. Cousins
To ask the Chancellor of the Exchequer what statutory provisions restrict the ability of policyholders to make top-up payments to long-term endowment insurance plans; and what plans he has to review these provisions. 202W
§ Miss Melanie Johnson
There are no statutory provisions prohibiting top-up payments. The provision of advice on and selling of endowment policies is regulated by the Financial Services Authority. Policyholders are encouraged to seek independent financial advice before deciding on options to meet projected shortfalls in maturity.