GOVERNMENT LIFE INSURANCE.

Mount Ida Chronicle, Volume IV, Issue 250, 19 December 1873, Page 3

GOVERNMENT LIFE INSURANCE.

Mr. Clapeott addressed the public at the Maeonie Hall, Naseby, in the interest of the General Government Insurance Office, on Monday evening last. The hall was well filled, and the attention given to the subject was only what the ability of the lecturer and the importance of his theme led us to expect. Several ladies graced the meeting with their presence, and seemed to take a keen interest in the different tables as their provisions were explained. Mr. Clapeott began by stating that the term " lecturer " was peculiarly unfortunate. When anyone was announced to deliver a was expected that a most dry discussion about something or other was to be inflicted. He intended, however, to leave for that night the barren waste of figures with which they had nothing to do. The tables had been prepared by skilled hands, and the Government had nothing further to do with them but to look to them as guides* It was generally said, as a point condemnatory of Government insurance, that it was only one of Vogel's dodges to raise the wind. If so, all honor to him; but it is not so. We are indebted for the scheme of Government Life Insurance to Mr. Gladstone, Mr. Lowe, and Mr. Kay, late President of the Board of Trade. Alluding to the security offered, the lecturer said the policies were as secure and as legal as any transaction under the Land Transfer Act. All premiums formed a Trust Fund, and were calculated at as low a rate as was compatible with safety. Should, however, this fund fail, the public revenues of the country would be fallen back upon to make good the deficiency. Referring to the tables, it was pointed out that, taking thirty for a convenient age, under Table I. a man of that age could, by paying £2os. 6d. per year, secure £IOO to his heirs at his death—a payment of only about IOcL a week. Under Table 11., by a payment of £2 12s. 5d., he could secure £IOO at his death, and cease all further payments at the age of fifty—that is. paying £2 12s. sd. for twenty years—if he lived so long— to secure £IOO at death. Under Table 111, if he wished, as in the case of a single man, to enjoy the policy himself when he was old, the Government were prepared to meet him. Under this table he could, by paying £2 14s. 3d. per year, secure a payment to himself at sixty of £IOO, or to his heirs should he die sooner. Under Table IV. two partners, by paying £2 17s. 9d. between them per yoar, could ensure the payment to the survivor of £loo—so that, under this provision, two parties agreeing to insure for half the value of their business, if either died, the survivor would have a fund to buy out his deceased partner's interest, instead of having to wind up, or to take in someone else whose only recommendation might be his money. The lecturer dealt very forcibly with the objections usually raised, especially denouncing the man who said he could not afford it, yet was to be found in the public house. Such a man practically by his aetion said, " I can't afford to protect my wife and children from poverty and distress, yet I can spend my money in the public bar. I love my wife and children, but I love my whiskey better." Referring to proof of age—a stumbling-block to many—he stated his latest instructions went as far is concession could go. Copy of register if birth was first demanded; failing that, mptismal certificate would be admitted; mould that source fail, entry in a Family Bible would be passed ; or, finally, if none >f these proofs could be obtained, the affidavit of a friend, that to the best of his belief the age was correct, would be ac- • jepted. With regard to forfeiture of poicy through irregular payments ot pre- ( miums —if a payment were discontinued, ] ;he policy would not be forfeited, but vould be kept up for as many years as sremiums had been already paid. Any ime within that period the insured could 1 nake good his deficiences, or, should he ' lie, the policy would be paid to his heirs, ess the unpaid premiums, and six per sent, interest. Death by duelling, the ' lands of justice, or suicide, would not now * nvalidate a policy, as the Government held. ;hat a man who, in his sane moments, had ' brcthought enough to provide for his j amily, should not be punished through lis suffering family for subsequent insane r ictions, ■,

Mr. Clapcott having very ably enlarged upon these points, which we have briefly summarised, then delighted the audience with a few inimitable readings. Whether ns Mrs. Caudle, Mark Twain, or as' a"renderer of deep pathos, Mr. Clapcott is a master, and if not, as he alleged, a funny man, he is evidently an appreciative admirer of true genius which can soar.at will from the depths of humorous comedy to the heights of tragedy. His Worship the Mayor presided, and proposed a vote of thanks to the lecturer, which was received with acclamation.