INSURANCE POLICIES

Wairarapa Times-Age, 10 April 1940, Page 4

INSURANCE POLICIES

RETENTION BY SOLDIERS URGED R.S.A. TAKING ACTION. CRITICISM OF REPORTED OFFERS. (By Telegraph—Press Asoeiation.) WAIPAWA, April 9. Disapproval of certain trading which is going on in soldiers' insurance policies was expressed at a meeting of the Waipawa branch of the Returned Soldiers' Association. It was stated at first appearance the offer to buy the policy appeared to be a good one, but a further examination showed that the soldier would be illadvised to part with it. The meeting adopted the following resolution: “That this association strongly advises men going on service with any branch of the fighting forces not to sell or otherwise dispose of policies of insurance on their lives without grave reason, and in no case without first obtaining the advice of their solicitor, banker or local returned soldiers’ association; and that this resolution be forwarded to the New Zealand Returned Soldiers’ Association with the request that it be placed before the Government and the military authorities for their appropriate action.’’

It was stated that a man going into camp had been approached to dispose of his life policy at a sum approximately double the amount which any companw would offer as the surrender value. The inadvisability of a man going into camp parting with such a valuable asset as his life policy, specially if it was not subject to any war loading, was stressed in the course of a discussion, particularly in view of the assistance which the Government would make available, in cases of necessity, for the payment of premiums. The president. Mr H. T. Limbrick, said an outrageous state of affairs appeared to exist at present, and the matter should be placed before headquarters as speedily as possible so that an official statement could be issued for the protection of men joining up.