asked the Minister for Industry and Commerce if he is aware of the serious loss suffered by many holders of industrial life policies by reason of the exteremely low free policy values paid by assurance companies compared with the total value of premiums paid; and if he will take steps, including the introduction of amending legislation, to relate the free policy values more equitably to the value of premiums paid.
Ceisteanna—Questions. Oral Answers. - Industrial Life Assurance Premiums.
10.
Mr. Ryan
The position as regards free paid-up policies of industrial assurance is already the subject of legislation. The Rules for ascertaining the amounts of free paid-up policies of industrial assurance are laid down in the Third Schedule to the Insurance Act, 1936. Assurance companies are required to pay amounts calculated in accordance with these Rules and I have no reason to think they do not do so. If the Deputy has any information to the contrary, perhaps he would furnish it to me and I will have an investigation made.