In relation to the relevant period of "dormancy", the Minister has taken account of the disparate nature of life policies and provided that this will depend on whether we are dealing with a specified term or non-specified term policy. For specified term policies, dormancy will occur where there has been no customer initiated communication with the insurance company for a period of at least five years from the later of the date the policy matured or the date the policyholder last made contact with the undertaking. For policies with no specified term, dormancy will occur where there has been no customer initiated communication with the undertaking for at least 15 years. Senators will recall that 15 years is the dormancy period applicable to banks, building societies and An Post under the Dormant Accounts Act 2001.