SO-CALLED INDUSTRIAL INSURANCE

Dominion, Volume 13, Issue 290, 1 September 1920, Page 7

SO-CALLED INDUSTRIAL INSURANCE

Sir,—Mr. Massey has promised to reform the above this session, so it is well to look at' the evils that have arisen. At present more than one insurance company has had men out insuring (?) children from birth, and collccting from one fo five shillings weekly for the policy that is issued. If the clvild dies when under five, any such company pays out only six pounds—often very much less than it has received. Is this just or fair to the parent, especially as the law allows an insurance office to refund everything paid, and with good interest as well? This business means that mothers insure the industrial insurance office, though tho agents profess that' the office insures, the child.

Those industrial offices also offer and issue policies on lives over ten years of ago at weekly rates, yet if the life they bo insure die. within six months of th© issue of the policy they pay out only a quarter of the amount they have been paid for. If the lifo assured dies in tho second six months, such offices pay only half the'sum assured; that is, half what they have been paid for. These two practices have teen costing and losing for the mothers and working class of New Zealand over two hundred thousand pounds yearly, as, naturally, when they learn the truth thoy let the policies lapse, and everything paid is, under the present conditions and law, lost.

Another bad feature of industrial insurance is that eren though a policybolder baa regularly kept up the weekly

payments for twenty years or more, if for any reason—sickness, unemployment, or strike—tho weekly payments become over four w;eks in arrears, all previous payments may bo confiscated by Ui>> industrial insurance office. Industrial insurance i has been one of the principal causes in promoting the antagonism between Capital and Labour. It is costing and losing over ten shillings a week for thousands of fnmilies in New Zealand. This evil must bo abolished, as it is helping to destroy our civilisation, It may be said that somo weekly payment provident schemo is necessary. If so, no plan in the world gives such largo benefits as the National Provident Fund. In addition, there is group life insurance, by which every worker can have a substantial life insurnnce .without any cost to himself—l am. eto.. H. H. THOMPSON.