I have no problem with the Order of Business as outlined, but I ask the Leader to invite to the Chamber the Minister for Finance to give his views on the marketing and administration of whole-of-life insurance policies. Members may be aware that such policies involve an applicant taking out a life cover policy for events after his or her death and it would protect the family financially. It is good and useful for most people to take out such a policy. However, people do not seem to realise that after paying into such a policy for ten years, an anniversary is reached where an insurance company may, and invariably will, increase the premia significantly, with no corresponding increase in the guaranteed sum. I can give a brief example. Ten years ago an individual took out a whole-of-life assurance policy, with the premium set at €90 per month and the assured sum at €100,000.

Ten years later the sum insured has grown to approximately €220,000, a 100% increase, but the premium has increased from €90 up to €800 per month, something most people cannot afford. When these policies are being sold, it is not made clear to the purchaser that this is going to be the scenario. One finds people who are entering middle and old age and can no longer afford to maintain the premiums on their life cover at a time when, actuarially, they probably have more need of it than ever before. This matter was raised in the previous Dáil by my colleague, Deputy Michael McGrath, who has identified a very significant cohort of people who are caught in the trap to which I refer. It is a trap because in many cases individuals have used life cover as security for their mortgages and cannot arbitrarily opt out because they do not then have mortgage protection, which is more difficult to obtain the older one gets. This matter must be examined. I raised it briefly in the previous Seanad. I am going to bring forward a Bill to deal with it soon if I do not see the Minister moving on the issue. I hope the Leader will make that possible.