HOW POLICIES DO NOT LAPSE.

Greymouth Evening Star, Volume XXXI, 30 August 1901, Page 4

HOW POLICIES DO NOT LAPSE.

A Striking Example of a Policy Supported by its Surrender Yalue.

The following is a recent instance of the- practical working of the liberal regulation of the AM.P. Society, which automatically sustains a policy in force by means of its surrender value when the member has failed to pay his premiums. , Mr. Charles Dillon effected policy 253,669 for £SOO in June 1892, and paid the premiums up to 2nd June, 1898. He then failed to pay the premiums, having also borrowed on the policy. The premiums unpaid during 2h years were advanced by the Society notwithstanding. He died on the 11th September, 1900. The policy was still in full force, with bonuses of £B2 6s added.

The assured had paid in premiums £B4 10s during six years. He owed in respect of the policy a total sum of £79 9s Bd, or only £5 less than lie paid in. The amount of claim payable at his death was £582 Os (subject of course to deduction of the existing debt).

The following arc the particulars of the claim:

So that, after deduction of amount borrowed and the premium arrears on the policy, in all £7O Us Bd, the widow was entitled to a sum of £502 10s 4d, being more than the sum originally assured. The above is a striking illustration of the benefits derived under the liberal business regulations of the Society even wliere the assured fails to keep up his payments. The particulars are published bypermission of the widow, who states that she is "most highly pleased with the results of the settlement of the claim."

Sum Assured £500 0 Bonus to 1898 66 12 18'J9 Bonus 12 0 Bonus to date of death 3 0 0 ( 0 0 Total Claim ...£582 6 0