Compulsory Life Insurance.

New Zealand Graphic, Volume XLV, Issue 20, 17 May 1911, Page 4

Compulsory Life Insurance.

The Mayer Christchurch (Mr. P. E. Taylor, M.P.I remarked to * reporter on Monday that he favoured the late Sir Harry Atkinson’s scheme for compulsory national life insurance, and the case came under his notice recently confirmed him In the belief that life insurance should be a Stats monopoly. The case referred to, he said, was that of a working man’s wife, who was induced by a canvasser in ISM to take ont an industrial policy. She was to pay sixpence per week until sis reached the age of 35, and she would receive £24. The policy matured recently, and she was offered £l2 in full settlement of her claim after having paid in a tolhl of £l9 10/. At first she thought of contesting the matter in the courts, but abandoned the idea when the possibility of losing the money offered in settlement was brought to her attention. The woman was confident that the sunt mentioned to her when she took out the policy, that would be payable to her when it matured, was £24. The policy was not issued to her till a long time after her proposal ebs accepted; it contained a provision that- if the weekly payments were in arrears for eight weeks the policy would lapse. Right up to within nine weeks of the maturing of the policy she was waited upon for her payments, and when the policy matured she was informed th*t it had lapsed owing to the nonpayment of premiums. Upon threatening to take legal proceedings she was offered £l2 in full settlement, and this she accepted, and so made the best of a had bargain.