INSUEANCE COMPANIES.

Nelson Evening Mail, Volume V, Issue 59, 11 March 1870, Page 2

INSUEANCE COMPANIES.

To the Editor of the Nelson Evening Mail. Sir — As you have brought the Government system of Life Insurance before the public by a lengthy -paragraph thereon in yesterday's issue, I consider it but due to the respectable Life Insurance Companies represented here that the advantages they offer should also be alluded to. The Government appears to rest its claim topublic patronage on the fact that it offers Government security to the assured; but I fail" to see in that any more security than is obtainable from: a first-class office with large resources immediately at its command. It is not long since that instances occurred of holders of postoffice orders being unable to obtain payment of them, and Government officials well know the fact of their salaries being sometimes in arrears, and the impecuniosity of tho Government and its inability to meet claims tliat should be paid without delay are no unusual occurrences iu New Zealand ; and what security does it offer that similar delays may not occur with claims under life policies? But I can name several offices whose existence has been longer than tlie New Zealand Government, and who' have always met their claims with the greatest promptitude. I hgve carefully considered the advantages offered by Government and those offered by th& Life Offices represented here, and am decidedly of opinion that the latter offer. „.the greatest. For instance, compare the Government announcement that if, *' after the payment of premiums for five years, the assured desire to discontinue them a portion of them will be returned." with that of an English office that " it is always prepared tc* purchase the policies or grant another in lieu thereof without any further payment of premium." The same office, I observe, grants a bonus on its policies, allows a portion of the premium to remain on credit, or in case of lapsing by non-pay-ment of premium allows it to be again taken up, and affords a variety of ways of effecting life insurance not provided for by the Government system; and all this coupled with security which in my opinion is even preferable to that of the Government. These advantages surely are worth the consideration of those intending to insure, and my object in troubling you with these lines is that, whilst I fully approve of the Government attempt, and the advantages it offers for persons to make provision for the future, tho advantages offered by the respectable insurance companies may not be lost sight of. Yours truly, ~ An Insured. Nelson, March 11, 1870.