LAPSED INSURANCE.

Auckland Star, Volume LVIII, Issue 133, 8 June 1927, Page 4

LAPSED INSURANCE.

The largest percentage of life insurance policies which insurers allow to lapse is not generally realised (says the Auckland Chamber of Commerce Journal). During 1923 ordinary life insurance policies were issued in the Dominion to the number of 24,380; representing an annual premium of £318.626, and a total assured sum of £9.43"). 956. Discontinuances amount lo 16.091; £164.843. and £4.861,073 respectively. Total policies in existence at the end of the \ ear amounted to 223.055: £2,340.272 and £72.380.491. Of the amount discontinued. 9 per cent was accounted for by deaths. 11V6 per cent by maturitv. 20 1 /2 per cent by surrender, and over 52 per cent by lapses. Fo. - industrial life insurance the percentages of lapses are even higher, being approximately half the number of new policies issued. Industrial life insurance premium income during 192) amounted to £530.188 and claims to only £125.520. Management expenses (over two-thirds of which are commissions) exceeded claims by nearly 50 per cent. As much as 85 per cent of the were due to allowing policies to lapse.

CHICAGO WHEAT VALUES. (Received 9.30 a.m.) CHICAGO, June 6. \\ heat for delivery in July is quoted at Chicago at $1.42% per bushel, for September delivery the rate is $1.40 7 /s. —(A. and N.Z. Cable.)