asked the Minister for Finance why the family of a deceased prize bond holder (name supplied) could not benefit when the bond was drawn for a prize.
Ceisteanna — Questions. Oral Answers. - Prize Bond Draw.
47.
Under the terms of the Prize Bond Prospectus a prize bond is not eligible for inclusion in a draw if the holder has died before the commencement of the month in which the draw is held.
In the case mentioned by the Deputy the bond holder died on 23rd February, 1969, and as his bond was, therefore, not eligible for inclusion in the March draw it could not validly draw a prize.
Would the Minister say what is the reason for this arrangement in regard to the Prize Bond draw? Does he not agree that it should be included with the deceased's assets as it is very hard luck on somebody who had a family investment in prize bonds over the year that simply because the person whose name was on the bond has died the prize will not be paid? Would the Minister consider adjusting that?
This has been discussed on a number of occasions. I think there are almost insuperable difficulties in changing the system. The whole thing is a matter of luck anyway.
But it is very hard luck on those who happen to have a prize bond in their possession and are told that they cannot get the prize because the person whose name is on the bond has died. This should surely be considered.