Seanad debates
Wednesday, 12 February 2003
Unclaimed Life Assurance Policies Bill 2002: Committee Stage.
10:30 am
Frank Fahey (Galway West, Fianna Fail)
There is no benefit to insurance companies to retain policies. Companies would be far better off if the holders came forward to claim their policies. For that reason, we have a stipulation that a notification must issue once a year. If one writes to people once a year to tell them they have a dormant account and they take no notice, I do not suppose writing twice a year will make much difference.
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