Insurance 'not best investment’

Press, 14 November 1977, Page 4

Insurance 'not best investment’

PA Dunedin The Mayor of Dunedin (Mr C. K. Skeggs) took the bull by the homs when he officially opened a Life Underwriters' Association seminar with the comment that endowment policies were not a very good investment. Mr Skeggs said he was concerned about the return to the investor from endowment policies.

"When you look at -them, are they really a good investment for the individual?” he said.

“If anyone got down to analysing the cash benefits on an individual basis, the answer is ‘No’.”

He said that with present rates of inflation, property was a better investment than putting money in the bank or into endowment insurance.

However, he said, he would be pleased for any insurance agent to work out a policy for the Dunedin City Council to get a SI2M library. As chairman of the Otago Harbour Board. Mr Skeggs said financial assistance had been received from insurance firms, and “to that extent I think insurance is very worth while,” said Mr Skeggs. About 70 insurance agents — from Southland, Otago and South Canterbury — attended the one-day seminar to listen to panel discussions and speakers on such topics as “Why sell superannuation,” “How I sell 500 policies a year,” and “Estate planning.”