41.   The Consumer Federation of America also suggests the program would give the insurance industry free rein over policy holders.

42.   The company failed because it promised higher yields to policy holders than what it could earn.

43.   The company, which largely sold annuities to retirees, is chartered in Delaware, but the majority of its mostly elderly policy holders live in Florida.

44.   The information needed to mount an appeal, he said, was contained in a booklet provided to all policy holders.

45.   The lawyer, Anne B. Smith, said some problems resulted from European privacy laws that make it difficult for companies to publicize names of policy holders.

46.   The insurance company is owned by policy holders and is not publicly traded.

47.   The life insurer is considering offering policy holders a cash alternative.

48.   The ministry decided on the closure after Nissan Mutual asked other life insurers for access to a fund set up jointly by insurers for the protection of policy holders.

49.   The policy holder could sue for economic losses.

50.   The U.S. institutions are expected to buy those shares of policy holders who do not want to take up their allocation.