asked the Minister for Industry and Commerce if he is aware of the many cases of hardship that arise in connection with weekly life assurance policies in that, if contributions fall into arrears for a short time, all premiums that have been paid are forfeit and benefits lost, and further if he will consider the advisability of appointing a Committee to inquire into the matter and if necessary suggest appropriate legislative action to obviate such hardships.
Ceisteanna—Questions. Oral Answers. - Life Assurance Premiums.
Some cases of the character mentioned by the Deputy have been brought to the notice of my Department. I appreciate the necessity of revising the existing law in this country governing the operation of assurance companies and societies. This matter was investigated by an inter-departmental Committee in 1923 and the recommendations contained in its report are at present under consideration. A decision has not yet been taken on the larger questions of policy involved but the particular aspect of the case referred to in the Deputy's question will not be overlooked.
Does the Minister recognise that the matter is a really urgent one and is causing hardship in many cases?
I do.