Seanad debates
Wednesday, 12 February 2003
Unclaimed Life Assurance Policies Bill 2002: Committee Stage.
10:30 am
John Paul Phelan (Fine Gael)
I move amendment No. 3:
In page 12, subsection (1), lines 5 to 7, to delete all words from and including ", except" in line 5 down to and including "policy," in line7.
Under this section policyholders who may have more than one policy with an insurance company do not have to be notified more than once. If a policy has reached its conclusion and in two or three years another policy was to be unclaimed by the same person, it would be appropriate and not too large a burden on the financial institution if people were contacted according to the number of policies they held.
No comments