UNIQUE INSURANCE
WOMAN AND RE-MARRIAGE. SECURITY FOR A LOAN. By Telegraph—Press Association. Auckland, Oct. 27. An extraordinary policy which was issued by an insurance company in New Zealand was related by Mr. H. E. Vaile, president of the Auckland branch of the Beal Estate Institute, speaking at the conference dinner last evening. A widow, who wanted to borrow £4OO, offered as security a property which had been bequeathed to her on condition that she did not re-marry. The money was lent, the lenders, to protect themselves, taking out an insurance policy which would recoup them in the event of the woman taking a second husband. She did not remarry during the period of the loan, which she eventually paid off. “The singular thing,” said Mr. Vaile, “was that the insurance company did not even demand an inspection of the lady before issuing the policy. The premium was the same whether the lady was pretty or not, whether her chances of re-marriage were promising or remote.”
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Bibliographic details
Hawke's Bay Tribune, Volume XXII, Issue 269, 28 October 1932, Page 7
Word Count
165UNIQUE INSURANCE Hawke's Bay Tribune, Volume XXII, Issue 269, 28 October 1932, Page 7
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