Page 54 Advertisement 1

Kai Tiaki : the journal of the nurses of New Zealand, Volume XIV, Issue 1, 1 January 1921, Page 54

The Nurses' Protection & Thrift Fund THE STATEMENT Benefits secured by a Nurse Contributing on a Basis of £5 per annum (namely at the rate of approximately 2s. per week) in the NURSES' PROTECTION AND THRIFT FUND. 1. £100 with bonuses at the end of 20 years. 5. 10s. weekly for 26 weeks during incapwity 2. A Pension (or annuity) may be purchased with arising from any sickness, the above cash payment if a member so desires. 3. £33 6s. Bd. if death occurs (bonuses added). Hunting, Motor cycling, or Mountaineering are 4. 10s. weekly for 26 weeks during incapacity risks which are not taken in this Scheme without from Accident. a slight addition in contribution. SUBSCRIPTIONS. The above benefits are obtained on payment of in the form of contract the amount paid for Sick£s yearly ; £2 12s. 6d. half-yearly; or £1 6s. lid. ness and Accident benefits separately, and also quarterly ; provided age does not exceed 40 next the amount paid for maturity benefits, so that if birthday ; over age of 40 the rates are : £5 2s. 6d. at any time the former benefits are discontinued, £2 13s. lOd. ; and £1 7s. 7d. respectively. the members who desire to retain the maturity From every point of view yearly payments benefits ma y see at a glance what the amount are the most desirable. of m the reduced subscription is. , , , , . The term of Membership is for a period of 20 Proportionately increased benefits are ob- g In or(ler that the fuU advant ' a of the tamable by higher subscriptions. Fund may be obtained ifc is nec es^ary that subIn assessing the amount of subscription re- scriptions for the full 20 years should be paid quired to provide the various benefits, it has for otherwise some financial loss to the member must various reasons been deemed desirable to detail result. ADVANTAGES OF THE FUND. 1. Protects the loss of income during any sickness. 10. Commended by public and business men. 2. Protects loss of income during Accident. 11. Liberal non-forfeiture privileges. 3. Makes positive provision for later years of life. Note.— Notification of any accident or sickness 4. Secures financial assistance when most needed. mugt be made 14 days from the 5. No deduction (from amount payable at ex- date of such No claim can be recog . piry of term selected) for cash benefits nised after three mon ths expiry, received. 6. Benefits, Accident and Death, commence on date of acceptance. Sickness, 28 days In event of the assured discontinuing nursing from date of commencement of assurance. after her marriage, the Sickness and Accident 7. Introduces a simple system of saving. benefits will require to be cancelled. 8. Financial Stability of Fund absolutely assured. The Sickness and Accident benefits do not ex9. Officially supported by the Executive of the tend to travel and residence outside New Zealand N.Z. Trained Nurses' Association. and Australia. LIBERAL NON-FORFEITABLE PRIVILEGES. After the first subscription in the fourth year butions to the heavy liability carried will be small , of membership has been paid, the Member ac- consequently the amount of the fully paid up quires a non-forfeitable interest in the Fund which interest cannot be expected to exceed the amount may be applied as " follows : — of contributions, but as the duration increases 1. For payment of a contribution which it is the ratio which the fully paid up interest bears to temporarily inconvenient for the member to pay the total contributions will become greater year — a small charge being made for interest when, by year. the contribution is subsequently paid by the 3. A Member has the privilege of drawing in member. cash the ascertained cash value of her fully paid 2. In obtaining a fully paid up interest in the up interest in the Fund (referred to in No. 2) Fund, the amount of which (interest) will be re- thus terminating all her further interest in the ceived by the Member at the completion of the Fund, but the amount of such ascertained cash full Membership term, originally selected, namely value will necessarily be less than the total con--20 years, or which will be paid as directed should tributions paid for the death or survivance benethe Member die before the time. The amount of fits, and it must be noted in calculating the amount such paid up interest will be governed by the of such cash value that no portion of the subscrips duration of membership and amount of contribu- tions paid for the Sickness and Accident benefittions already paid. It will be apparent that can be taken into account, as the whole of these during the early stage of the Member's connection are absorbed in protecting the Member against loss with the Fund the proportion of the total contri- arising out ol either Accident or Sickness.