UNCLAIMED POLICIES

Motion Text

That this House notes the recent announcement by the Scottish Widows company that policyholders have not so far claimed the matured proceeds of some 24,000 policies, the average amount per policy being over £2,000; estimates that approximately £50 million is due to be claimed provided that those entitled are made aware and make their claim before 3 March 2010; further notes that the qualifying policies include pensions, with-profits bonds, endowments and some forms of life insurance with Scottish Widows; further notes that the policies were still `live' approximately 10 years ago; and expresses the hope that those who could benefit will take advantage of the opportunities provided by Scottish Widows to avail themselves of what is rightfully theirs or lose all entitlements to the proceeds after the final 3 March 2010 deadline.