LIFE INSURANCE.

Dominion, Volume 4, Issue 1128, 16 May 1911, Page 5

LIFE INSURANCE.

-■ PROPOSED STATE MONOPOLY CRITICISED. (By Tolegraph.-Specia! Correspondent.) Chi'istchurch, May 15. Several life insurance agents have had something to sav about Mr. T. E. Taylor's advocacy of a State monopoly of life insurance. One agent said that it was impossible to come to any conclusion as to the morits of tho particular case quoted by Mr. Taylor, as tho statement was purely an ex parte one. It was quite possible that the company concerned had a complete reply to the charge, which was implied, of having dealt harshly with the woman. The case dealt with an industrial policy, and policies of that kind were on an entirely different footing to the ordinary life insurance business. The companies sent their collectors out cverv week to collect tho premiums due. The P rem '«ni might be threepence, sixpence, a Hnilliug, or other sum, and frequently collectors had to call no fewer than three times at a house in .order to collect small sums of that description. Every effort was made by the companies to °et the insured to keep up their weekly payments and it could only be presumed that in the caso quoted by Mr. Taylor the,woman had failed to pay her premiums. Industrial policies had practically no surrender value. As to tho proposal that the State should take over the-life insurance as a moi-polv, ho considered that it was a ridiculous one, which could only bo mado by a person who had a very indifferent idea of what he was talking about. Results hid proved that the Government could not get cheaper or more economical management In life assurance statistics showed Ibat tacro wore three companies- at least whose returns shared a lesser percentage of expenses on total receipts from nr'emiums and interest, excluding consideration for onnmties than did the Government otace. Ihe Shite monopoly Uka was 'lS 1 ? l llev ;, one -r, hatl been wised by tho lato Mr. Seddon, who, however dropped it like a hot brick when the insurance companies showed how much money would be withdrawn immediately from the country, and how much would go out annually in the way of premiums