BORROWERS' ON LIFE POLICIES
(To the Editor.) ' Sir,—On the passing of the National Expenditure Adjustment Act conferring benefits on mortgagors, a discussion arose regarding the position' of borrowers on the security of their policies deposited with the relative life assurance offices. Subsequently Mr. Forbes announced at the close of 7ast session of Parliament tuat such borrowers were mortgagors within the meaning of the Act,- and that if the assurance offices did not give their pohcyholders the benefit of the 20 per cent, reduction in interest lie was prepared to pass a Bill through the House making, it mandatory ur/on them dodo so. None" of the debits received by.me to date from the office concerned have given me any relief, in this .regard, and my inquiries" in this connection have elicited the fact that only the Government Life Assurance Office is actually allowing lenders this concession. May I ask the indulgence of your columns to inquire if this question has been-postponed or is it the intention of the" Government to enforce .the provisions of the Act on the offices other than the Government Life Assurance Department?—l am, etc., ■■'.'.-;. BURDENED BORROWER.
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Bibliographic details
Evening Post, Volume CXV, Issue 31, 7 February 1933, Page 6
Word Count
189BORROWERS' ON LIFE POLICIES Evening Post, Volume CXV, Issue 31, 7 February 1933, Page 6
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