INSURANCE TRANSFER FEES

Evening Post, Volume CXIII, Issue 75, 30 March 1932, Page 6

INSURANCE TRANSFER FEES

(To the Editor.)

Sir, —At this time . when women- are being subjected to the most extraordinarytaxation to remedy a position which they had no hand in bringing about I should be obliged if you would give some publicity to a small matter "which is of interest to many women. I refer to the transfer fee charged by insurance companies. It is charged by State and outside insurance companies alike. When a person, takes out a policy on furniture or personal effects -with an insurance company an inspection is made, and the policy is issued. There is no charge for the inspection. Yet when a transfer is made during the currency of a policy a charge of 2s 6d is made. Very often all the work done tor this charge is a change of address made on the policy and in the books of the company. The company should stand this expense out. of the premium. In any case, if a charge is made, it should be reduced by 10 per cent, in accordance with the promise of the Prime Minister regarding a decrease in the cost of living. It is to be presumed that all companies have decreased the salaries of their employees 10 per cent.—in the private companies where has that amount gone? _To illustrate, a case: Mrs. A. has:a policy on her furniture. She moves from too. 6.and is charged 2s 6d transfer fee. A little later, owing to wage reductions she returns to No. 6. and is again charged a transfer fee of 2s 6d. Note that the company has already inspected No. 6, and no work is entailed but the change of address on the policy. Scores of women are beins driven to less convenient homes just now, and even half a.crown is a consideration.—l am, etc., * , 8.8.