LIFE INSURANCE POLICIES
“WAR CLAUSE” NOT INSERTED
There has been no general move by life insurance offices m New Zealanu -o inseit a “war Clause” in new policies to safeguard them against death in military action or travel. As xar as could be ascertained yesterday, no company has yet inserteu the clause. Most oi the large American companies recently inserted the clause, writing it into ail new policies for men aged between 17 and 26 years. No action has been taken in Australia, where during the last war ii a person bought insurance in war-time and was killed “outside the Commonwealth” his dependants received oniy the premiums paid and per cem. compound interest, except on payment of a war loading, which varied accoruing to service. The average war loading was £5 for every £lOO of covet. In New Zealand tne “war clause" was introduced shortly after the outbreak of war in 1939. and the average scale was slightly higher than that m Australia.
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Press, Volume LXXXVI, Issue 26221, 19 September 1950, Page 5
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163LIFE INSURANCE POLICIES Press, Volume LXXXVI, Issue 26221, 19 September 1950, Page 5
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