New Advertisements TT/'AN I'ED, immediately, FOUR good practical Miners. Apply to JOHN NELSON, a2BO At the Renhar Coal Pits. 7 1 UVJERNMENT LIFE INSURANCE, j NEW ZEALAND. Mr F.S. CANNING has boen appointed ' Local Agent for the Clutha District. T. F. MDONOUGH, a 278 Chief Agent for Otago. "IVTEW -ZEALAND GOVERNMENT LIFE ASSURANCE. ON _HH MUTUAL OR PARTICIPATING PRINCIPLE. 1. Tho Government Life Insurance Department issues all forms of policies, and tho Payment of every Policy is Guaranteed by the Colony. 2. Division of Profits.- The surplus or profit is ordered by law to be divided among policyholders only, and is to be ascertained every fifth year. The firsfc investigation with a view to division of profits is to bo made as afc 30th June, 1880. _ Ifc may bo mentioned that the firsfc quinquennial investigation shews a clear profit of were £12,000. 3. Premium Rates are Lower than fche participating rates of Private Companies to an extent which is equivalent to a bonus in advance of fiom 15 to 20 por cent. 4. Payment of Premiums. — Tho payments may be made during whole term of lifo, or during a limited period only, afc an invariable annual, halfyearly, quarterly, or weekly premium, or by a single premium. Weekly premiums can only be paid on policies i^sused in the Industrial Branch of tho Department. 5. Thirty Days of Grace are allowed on all Renewal Premiums, and no policy is absolutely f orfeited for non-pay men fc of premium, unless tho promium _ remains unpaid for twelve months. Such policies may bo renewed, provided the premiums in arrears ancl interest are paid, and the Insured is in unimpaired health. 6. Liberal Conditions as to Travelling, Residence, &c. : — (i.) Policy-holders may travel without license or payment of extra premium, or reside in any part of the world, except within 25 degrees of the equator. (2.) Policy-holders may change their occupation without license or payment of extra premium. (3. ) Death by suicide (except within twelve months of fche date of the policy), by duelling, or by fche hands of Justice does not void any policy. (4.) No policy becomes void by any acfc of the assured so far as regards the interest of any third person, provided such act is dono without the knowledge, and thafc they pay the additional premium required, if any, as soon as such acfc comes to their knowpledge. All Polices, after five, years' duration, are Indisputable and Unchallengeable on any grounds whatever connected with fche statements on which fche assurance was based, provided fche age of the Insured has been admitted. 8. All Policies, af tor fivo yoars' duration, are Freed from all Conditions, except the payment of premium, provided the age of the Insured has been admitted, ancl he has attained thirty years of age, and he ha*s resided continuously within the ordinary limits from tho date of the policy. Holders of such policies can voyage or reside in any parfc'of the' world without license or payment of any extra promium. 9. Proof oi Age...- Age will he admitted at any time <3n a policy or.producfcion of either a Cerfcificate* qf Birth or Baptism : or, failiag these, the besfc proof thafc can be procured, such as, for instance, an entry in a family Bible, or a statutory .declaration from a relation or friend stating belief as to age and grounds of such belief. 10. All Policies are non-Forf aifcable after three years to the full extent of their value, so long as the surrender value of the policy is nofc less than the premiums in arrear together with interest at six per cent, per annum, thus giving to every policy.holder a full equivalent for overy premium paid. Such policies may be revived even within twelve months after oxhaustion of surrender j value ou 'proof of unimpaired health and pay- | ment of arrears and fines. 11. The Absolute Security from Loss — Insurers after having paid three full annual premiums, are guaranteed a cash surrender value of amount of 40 per cent, of the paid-up premiums ; and if for any reason the premiums aro nofc paid when due, a paid-up policy will ba granted for an amount generally greator than the paid-up premiums. The following illustration shows tho practical working of clauses 10 and 1-1 :-- A person aged 30, insured for £100, paying an annual premium of £2 0s 6d, whose policy has been' in force for three yeara, aud failing to pay tho next premium, tho surrender value of £2 (is Id would be applied by the Office to keep the policy in force for a period of twelvemonths, during which time the policy can bo revived, as stated in the proceding clause No. 10, unless he should desire to cancel the policy, in which case he could either receive the surrender value in cash, or a policy free ot all future premiums, of £6 6s 7d, being an amount slightly exceeding the premiums he has paid. ' 12. Loans on Policies.— Policy-holders can borrow on the securities of their policies afc 7 per cent, per annum t-3 the extent of 90 per cent, of the cash, surrender valuo. 13. Notico of Assignments are only received at the Head Office, Wellington. Sco section 22 of " The Government Insurance and Annuities Acfc, 1874." 14. Policies Protected from Bankruptcy. — An insurance policy effected by the insured bona fideon his ovnlifo is protected from bankruptcy or insolvency laws to a cortam amouut, which increases wifch its duration. Thus, after ifc has endured for two years, it is .protected to fche extent of £200 ; After five years .'to £500 After seven years to £1000 # After ten years to £2000 This protection applies only in favour of the personal representatives of the Insured. 15. Married women may effect policies, dispose of the money by will as if single, and their policies are protected from tho debts of their husbands, according to duration, to amounts similar to those stated above. 16. Settlement Policies. — Policies effected for tho benefit of the wife and_ children of the Insured are from the date of issue absolutely protected from the claims of creditors to the extent of £2000, provided thafc tho premiums are payable during life, or any period nofc less than seven years. 17. A Policy-hold or may at any time nominate fiis wifo, brother, child, or Bister to receive tho sum assured at his death, provided it does nofc exceed £200. 18. Probates, &c, dispensed with.— When a claim under policy does nofc exceed £200, the Commissioner may dispense with fche production of probate or letters of administration, thus saving great expense fco tho representatives of tho Insured. 19. No Policy or Medical Fee 3 charged.— Assurances are granted on a single life to the extent of £3000. 20. Claims are paid in full as soon as death is proved and the representatives of tbe deceased are ablo to discharge the policy. Note. — Printed copies of the Annual Reports and Accounts of the Department, together with Forms of Application and full particulars, may be obtained afc any Honey Order Post Office in tho Colony. T. M'DONOUGH, ] 5,276 Chief Agont, Otago District. I
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Bibliographic details
Clutha Leader, Volume II, Issue 105, 14 July 1876, Page 4
Word Count
1,192Page 4 Advertisements Column 4 Clutha Leader, Volume II, Issue 105, 14 July 1876, Page 4
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