Standard Life would like to give away £2 million to its rightful owners. The company launched an appeal before Christmas for policy-holders who had not claimed money owed to get in contact. There are 50 policy-holders whose contracts worth a total of £400,000 have matured and remain unclaimed.

The bulk of the unclaimed funds involve investment accounts which were let lapse by their owners who, for whatever reason, were unable to keep paying the premiums.

"But very often those who have paid more than two years' premiums do not realise that as a general rule the money already invested in the policy is their money and can be reclaimed at any time," said Standard Life's assistant general manager, marketing, Mr Paul Conheady. The unclaimed payments range from £20 to £30,000.

Standard Life has written to all known policy-holders with unclaimed funds, says Mr Conheady. He recommends that people who have moved or who have let a policy lapse should check to see if they are owed funds and then call the company's claims department in Dublin at (01) 475 7411.