§ Major ENTWISTLEasked the Presi-of the Board of Trade if he is aware that, on 4th November, 1918, Cecilia Pearce, 32, Paragon Street, Hull, took out a policy of the Prudential Assurance Company which she believed was a War Bond, on the instalment system, and for which she was to pay 10s, per month; that some time after a policy was issued to her upon which was printed in bold black type £5 National War Bonds; that for 30 months she paid instalments as they became due; that, in the meantime, she had married and was about to become a mother and was unable to pay the next instalment when it became due, and the policy has been lapsed; that application was made to the company for some return for the £10 paid in premiums, but the company refused, and as the policy had not been in force two years she does not obtain protection under the Courts Emergency Powers Act; whether these policies are War Bond policies or merely ordinary industrial assurance policies; whether they are issued with the authority of the Government; and, if not, whether he proposes to take steps to stop this practice and to carry out the recommendations of Lord Parmoor's Committee on Industrial Insurance?
§ Sir P. LLOYD-GREAMEI am informed by the Prudential Assurance Company, Limited, that a monthly premium endowment assurance policy in the Industrial Branch of that company was issued to Cecilia Pearce, under which the sum assured is payable at the option of the holder in £5 National War Bonds or the cash equivalent at the issue price of the bonds. In accordance with the terms of the policy, the assured has power to surrender the policy or take up a fully paid up policy for a reduced benefit after premiums for two years have been paid. In this case no surrender value attaches to the policy, because the payment of the premiums was discontinued on the 22nd March, 1920. The company states that no application for a return of the premiums has been received at the head office. Lapsed policies may, however, be revived at any time during one year from the date of the last payment of premiums, on production of evidence of good health, and payment of arrears of premiums. The issue1990W of these policies does not require the authority of the Government. In reply to the concluding paragraphs of the question, I would refer the hon. Member to the answer given by my right hon. Friend the Chancellor of the Exchequer on the 16th August to the question addressed to him by the hon. Member for Central Hull (Lieut.-Commander Kenworthy), and to the answer given by the Chancellor of the Exchequer on the 25th October to the question addressed to him by the hon. Member.