AIDING SOLDIERS

New Zealand Herald, Volume LXXVII, Issue 23593, 29 February 1940, Page 10

AIDING SOLDIERS

INSUKANCE PREMIUMS i. PRINCIPLES EXPLAINED MAXIMUM COVER! OF £2OO [by TELEGRAPH —PRESS ASSOCIATION'] WELLINGTON, Wednesday . The principles which the Soldiers' Financial Assistance Board has been directed to observe in granting assistance toward the payment of life, insurance premiums was explained by the Minister of Finance, the Hon. W. Nash, in a statement issued to-night. The Minister said that it had been decided to assist to a reasonable extent in the case of policies taken out immediately before or subsequent to the date of enlistment. Special circumstances would always be taken into consideration and, subject to the prescribed conditions, each case would be treated as generously as possiblo upon its merits. "I wish to make it clear," said Mr. Nash, "that assistance for this or for any' other purpose will always be granted by the board in accordance with the financial circumstances of the applicant, having regard to his ability to meet from his military pay and other resources commitments entered into. "The principles which the board has been directed to observe provide also that in each case the commitment should bo reasonable in relation to the applicant's obligations and general circumstances. In connection with life insurance policies which have been taken out immediately prior or subsequent to the date of enlistment, it has been decided to assist in such cases to a reasonable extent.

"The provision of insurance is undoubtedly a sound policy, and the board has accordingly been authorised to consider applications for assistance in respect of new policies up to a maximum of £2OO of insurance cover. There is an important proviso that the financial circumstances of the soldier must bo such that the measure of assistance through the medium of the board is justified. "The policy being followed is along the same lines as that adopted in 1916-18, when the Soldiers' Financial Assistance Board considered the payment of insurance premiums on new policies up to a maximum cover of £200."