BENEFIT INSURANCE.

Evening Post, Volume LXXXI, Issue 75, 31 March 1910, Page 8

BENEFIT INSURANCE.

A FRIENDLY SOCIETIES' SCHEME. DISCUSSION BY HIBERNIANS. A proposal for Mutual Life Insurasce was discussed at the conference of Hibernian delegates to-day. Bro. Kane. D.S. (Auckland), moved: — '"That any financial benefit member may on application to and furnishing his branch with a certificate of his good health and sound constitution from the branch medical attendant assure a sum of £50 at death in addition to his £20 funeral allowance by paying quarterly in advance to the Funeral Fund through his branch according to his then age on the following scale: —

The mover said the society would have to be careful that any scheme adopted would be based on an actuarial foundation. The figures set down in the motion were acttiarially sound. Furthermore if a scheme were adopted by tho tociety, and it was not sound the Registrar of Friendly Societies would not pass it. Bro. Pound (Invercargill) seconded the motion. In his opinion tlie matter required veay little discussion. (Hear, htar.) The scheme had one feature in its favour— it did away with the objectionable system of levies. Bro. J. W. Callaghan (Wellington) did not' approve tho proposal to "turn the society into an insurance company." At present the society offered sufficient benefits. The work of the executive- officers would be doubled and in other ways the scheme would be impracticable. The proposed innovation was quite unnecessary. It had been a matter for complaint in the past that insurance companies had trespassed on the friendly socie ties' domain by insuring against accident and even sickness. The society should not allow any complaint of th© kind to be made against it. Bro. Hooker (Hawera).. said he approved the principle of insurance, but in a matter like this there w'ero' other things to be considered. The society should in no way encroach upon the domain of insurance companies. In days to come it might be necessary for friendly societies to retaliate for any unwarranted action or departure «n the part of insurance companies. Bro. J. Hally (Dunedin) thought the motion a very harmless one, and had no hesitation in accepting it in its entirety. Bro. Dennehy (Westport) said he was in favour of any proposal to increase the death benefits of niembeis of the society. The only complaint ho was inclined to make wsis that the proposed scheme wan charged on an advancing b«is of five years. Why should a man of 21 have to pay on the same scale as a man of 24? It was all veiy well to talk about trespassing on the domain of the insurance companies. In matters of this kind the insurance companies would pay very little attention to the society. Bro. Patterson (Gore) had pleasure in supporting the motion. He claimed, however, that the scheme would be much stronger if it was a (ompulcory one. Suppose, for instance, the society consisted of 2000 members, and only 1000 availed themselves of the scheme? This would not be satisfactory. Bro. Hay ward (Leeston) claimed that a friendly society could not ofter too many inducements- to young men to join. Too much was- being made about the position of the insurance companies. Delegates were there to look after me interests of the H.A.C.8.5., and not the insurance companies. He heartily •.upported the motion. A scheme, such as that suggested, should have been embarked upon years ago. Bro. Dobbs (Christchurch) heartily supported the motion. The insurance companies were working for their own cause. Tho inducements they offered were largely against the interests of friendly societies. . At 12.30 p.m. tne discussion was adjourned until 2.30 p.m. After further discussion the motion w;is canied.

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