Clause 3 — (Rights of owners of certain endowment policies).

Part of Orders of the Day — Industrial Assurance and Friendly Societies Bill. – in the House of Commons on 15th March 1929.

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Photo of Mr William Kelly Mr William Kelly , Rochdale

Some of the reasons given by the Attorney-General against the Amendment may hold good, but, when he speaks of the insurance companies not being able to find out those people who have taken out policies, I am afraid he does not know the collectors and the machinery of these companies. As we know from experience in General Election periods, they have greater facilities for tracing removals than any election agent. If that were the only objection to the Amendment, I think the Amendment ought to be accepted, but I suggest to the hon. Baronet that there is another difficulty. It is only just that people should get their rights, no matter how long those rights have been withheld, but there is a difficulty in this matter in going back further than the year 1923. The insurance companies retain records of their policies over the past six years. I doubt very much if any insurance company destroys papers dealing with matters on which premiums have been received in the last six years, and, if the hon. Baronet were to fix the limit of 1923, I think the insurance companies would have little objection to this proposal.