Michael D'Arcy (Wexford, Fine Gael) | Oireachtas source

I have met a number of people who have got caught up in these policies and cannot continue with them because of the premia being charged. For example, there are people with policies worth less than €100,000 who have paid in over €100,000 and the premium is now €10,000 or €12,000 a year. There is a substantial case to be investigated and my Department has recently started to look into the matter. It has to consult stakeholders. I tried to get a date on which they would come back to me on it. I did not get one, but I am requesting that it be done before the summer in order that these matters can be brought to a conclusion and decided on by the Financial Services and Pensions Ombudsman. I have an issue with the mis-selling of products. I am not saying this is the mis-selling of a product, but none of the people I have met knew or understood that every five years there would be a review and a ramping up of premia as they got older. The difference in premia for people aged between 75 and 80 years and those between 80 and 85-----