MR CLAPCOTT'S LECTURE.

Patea Mail, Volume II, Issue 109, 26 April 1876, Page 2

MR CLAPCOTT'S LECTURE.

Mji Cr.Arco'j'T’s Jccturo on the Now Zealand Government Life Insurance scheme, us delivered last night, was one which deserves more than a passing notice. The benefits to the community at large which will follow the general adoption of life insurance are of the utmost importance. And why so? Simply because by it any man can either make provision for his own old age or guard his belongings from the accident of his death, happen when it may. The husband who loves his wife, the father who cares for his family, can by life insurance, and at a cost within the reach of all, make provision for them when he shall have been taken from them. The arguments brought forward in favor of the scheme wore unanswerable, and in the forcible words of the lecturer, it was clear’y shown that the man who spends a single sixpence to gratify his own appetite without it being necessary, whilst he has not made provision for those who should be dearer to him than life itself, is a cruel husband, an unloving father, and a bad neighbor. Below tve give a general view of the tables touched on by the lecturer : Every person from the age of 16 to 40 can insure for any amount from £IOO up to £3.000, and it is not necessary to take out a policy for a largo sum at first, as the privilege of extending the amount is always available. Table I—Premiums exceptionally low, and payable during life to secure a certain sum at death.

Example—Age 30, for cadi £IOO at death, quarterly payment 10s 4d.

Table ll—Also secures a sum payable at death, but premiums can be paid, either in one lump sun, o 1- be extended over a limited number of years, thereby avoiding 1 payments in advanced ago. Example —Age 30. for each £IOO, single premium £34- 9s Gd, and for like amount, payments to extend subject to duration of .life, over 20 years when all cost ceases, quarterly premium 13s sd. Table 111. —To secure payment of any sum cither to the assured himself mi reaching any agreed upon age. or to his representative, at any moment should death occur previously. Example—Age 30. For each £IOO payable to the insured on reaching the ago of £SO, or to his lioiis at time of death, the quarterly premium is £1 Is Bd. Tabic VI. —Hpechdly for children. Sums to he paid in favor of children on

event of death before such’ age is arrived at, all monies which may have been paid in are returned by Government. Example. —Child’s age, 2 years. For every £IOO to be paid to child, or to his parents, on his attaining the age of 21, the quarterly payment is Ids 2d. The special inducements which the lecturer held out may be thus summarised : —Security ; —Protection under Act of Parliament ; the Consolidated Fund being pledged to pay policies. Cost of insuring exceptionally low. Protection of Policy according to its age from Bankruptcy Laws. Immediate and absolute protection of policy when taken out in favor of wife and children and tables I and 11, and also when issued in favour of insured, or in event of death, in favour of wife and children under Table 111. Policies up to a certain amount payable without probate, or letters oi: administration. being’ roquired. Non-forfeitnre of Policy through inability of insured to pay on due date. Power of insured to allocate, policy amongst members of family by will. - Should he die intestate, Policy issued in favour of wife and children takes place of will, and Government divides amount equally between wife afid children. _ Division of Pkofjts.—All profits ( 0 ho divided amongst the insured every fiveyear s. Proof: of age :—Any document of previous date to that of proposal, being evidence of age of insured, will bo accepted as proof ; in the event of no evidence being attainable, a declaration madc_ by insured before a J.P. will be , sufficient, and age as given be forthwith admitted. Payment of premiums ;—First premium either yearty, or half-yearly, or quarterly, payable at local post office, any time within 3U days after notice of acceptance of proposal has been sent by Government. In the event of any person being accepted at lowest rates, and thereafter determining not to insure, he is expected to refund £1 Is to the Government for the cost of medical examination ; but should the Government decline to accept him or raise his premium, no cliatge will be made. Such are the sah'ant points which wo reproduce in the hope that Mr Clapcott wall be fully occupied during his stay, as the Government scheme of Insurance is based upon the desire to encourage habits of providence throughout every community, and to ameliorate the evils created in families by the death of those on wdiom they are dependent.

After the lecture Mr Clapcott treated his audience to readings &c. The audience were perfectly charmed, and he proved himself to be a coiismnate master of the histrionic art. “ From grave to g’ay, from lively to serene ” seemed to him as far as the difficulties of transition were concerned, a matter of indifference, and the audience by its demeanour testified its appreciation _