First payments confirmed for Equitable Life policyholders

Published on Tuesday, 05 July 2011

The Financial Secretary to the Treasury, Mark Hoban MP, has confirmed that the first cheques were being sent to Equitable Life policyholders yesterday, Thursday 30 June 2011, meeting the Government’s commitment that payments would start by the end of June. Hundreds of policyholders will receive cheques in the coming weeks at the start of a three year payment program and the Government has set aside half a billion pounds for the Equitable Life Payment Scheme over the coming year.

Policyholders do not need to get in contact at this time – the Government will be writing to all the eligible policyholders it can by June 2012 to provide information about their personal status within the Scheme. In accordance with the Independent Commission on Equitable Life Payments’ recommendations, the Scheme will prioritise the oldest policyholders for earlier payment, along with payments to estates of deceased policyholders.   

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