Government Life Insurance.

Manawatu Standard, Volume IV, Issue 129, 30 April 1884, Page 3

Government Life Insurance.

The Wellington correspondent of the South Australian Register says :— " It has - been discovered that the New Zealand Groyernment Life lusurance has been on the whole. a gigantic mistake. The Depaitment has been so much; more expensively worked than is the case with the general run of life insurance companies thai, as lives now come to fall m,, the Department is found to be a losing concern. 1 Inthe^ next sessiou a proposal will probably be made to hand over,, the* business to •ome well-approved Company. The Government will, as a matter oi course, hold itself i-espoosible for the risks ; if hich have been accepted and are still 1 .:iQa.tQring It is contended that the Government has no more right to take jup A life insurance business than it has : to. go m .for covering- marine risks or fop starling woollen factories or flourjn\\\l.. As evuleucing: how expensively the Department has been worked, the returns asked for show that the Commis}k>ner, whose work is and whose responsibility is next 10 nil, receives £800 a year; that the Aptuary, who works upon tables already provided for him, receives £600 a year ; and that the Inspector of Agencies last year received over £2000 m commissions. Public feeling reaches to strong indignation against the Department, and demands large modifications or total abolish-