Dáil Éireann Debate, Tuesday - 25 March 2014
222. Deputy Michael McGrath asked the Minister for Finance if his Department or the Central Bank of Ireland has an estimate of the number of mortgage holders whose life assurance or mortgage protection policy might have lapsed since the mortgage was taken out; and if he will make a statement on the matter. [13298/14]
View answerThe Central Bank has informed me that it does not publish the figures requested by the Deputy. The Central Bank has advised that if a consumer does not pay the premium on their life assurance or mortgage protection policy, the cover will lapse. The insurance company then informs the relevant bank of this fact. However, if the bank is collecting the premium for the insurer, the bank would be aware that the premium has not been paid.
