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The Mortgage Corporation

Sir, —Your correspondent G. H. Wilkin detracts somewhat from what is really an instructive letter on the above subject by the ambiguity of his phraseology in his last paragraph. He says: “In conjunction with the proposed new legislation, does the Government propose to increase widows’, old age and similar pensions to a decent living standard?. Failing this relief, the greatest beneficiaries of the Mortgage Corporation will be life insurance concerns; they will reap a harvest from breadwinners who, in fear of disability or death, and in an endeavour to keep their wives and families from being cared for by charitable institutmns, will be compelled to load themselves up to the neck with life insurance policies.” Mr. Wilkin by his wording would seemingly hold up life insurance companies as vampires, while he must know that such, concerns, more particularly those conducted on the mutual principle, by increasing their business do so to the advantage of their members, who all share in -the profits except, of course, such portion of those profits as may be reserved for contingencies and building up investment reserves. Therefore when people of a prudent turn of mind “load themselves up to the neck” with life insurance policies, provided they can afford to pay the premiums, they lessen the risk of becoming dependent on the bounty of the State. Had Mr. Wilkin referred to and dealt with the short-sighted policy of Governments in imposing grinding taxation on such institutions and thereby penalising thrift he would have done good service.—l am, etc., NEMO.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19350119.2.103.5

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 28, Issue 98, 19 January 1935, Page 9

Word count
Tapeke kupu
257

The Mortgage Corporation Dominion, Volume 28, Issue 98, 19 January 1935, Page 9

The Mortgage Corporation Dominion, Volume 28, Issue 98, 19 January 1935, Page 9

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