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GOVERNMENT LIFE ASSURANCE.

(From the " Grey River Argus.")

Tlie present visit of Captain Baldwin, the Travelling Sub-Commissioner and Lecturer for the Government scheme of Life Assurance, and the promised visit of Mr Short, the Lee turor for the Australian Mutual Provideut Society, induce us to direct public attention to this subject. Life assurance is a matter of too much general importance, of too much vital moment, to require any excuse in treating of it. It has of late years be. come one of the great national questions of the day at home—national in the magnitude of the interests it represents, ia the blessings it has bestowed upon all classes, and second to none in the amount of attention it has received from the public, tbe press, the Legislature, and, unfortunately, the Courts of Law also. It has had its seasons of adversity ; now high in popular favor, anon viewed with fear and feelings of distrust; but whilst the speculations of the day, the manias of the hour, have passed away, tenuu recessit in auras, Life Assurance has remained prospering on the whole, until it now represents something likeFour hundred millions sterling. ' But though on the whole very prosperous, the prosperity has not been attained without considerable suffering, misery, and ruin. The incredulous and unwary have hecorne the prey of speca. lators, promoters, and villains. Life assurance, indeed, has ever yielded a bountiful harvest to those who live upon duping their fellow men. When Dickens sketched the rise, progress, and fall of the Anglo-Bengalee Company, the sketch was as living and truthful a picture of the time as any that has ever been drawn by the pen of that great artist. A man may, as a rule, test the solvency of all other transactions, but he cannot do so in the cflse of Life Insurance. He has no reliable data to go upon—nothing to guide him but a company's reputation, a delusive test, as was evidenced in the case of the Albert and of many other companies of high standing which have collapsed at home of late years. Special legislation has been tried from time to time, but tried in vain—law* have been passed, but laws have been powerless to protect honest men while investing their hard-earned savings. Finally the Stale itself stepped in, but private interests were too strong even for Mr Gladstone, and his State Insurance scheme was too limited to become the great success it

er ved. Mr Cave, late President of Bf>ard of Trade, in his Bpcech in House of Commons, thus refers to tff o causes of failure in the Eng- , government scheme of Insurance. nig system," he says, " has not been great success that could bo wished, tly in consequence of the limit, bnt E fly because no agents wero emveil to recommend it to the public. [j worth no one's while to push it, [even the postmasters are not enerie enough, nor sufficiently remuneE j to make themselves zealous in fforlc." In adopting the English asure, the New Zealand Governbenefiting by the experience the Imperial Government, has irded against the causes of failure is referred to by Mr Cave. There re to local institutions in existence,

1 therefore no private interests infered with when the Annuities Acts re passed by the General Assembly, j appointment of Captain Baldwin 1 the activity of the postmasters •e been the means of giving rough publicity to the scheme, and making it as successful as it now lopbtedly is. Silently but surely , New Zealand Government Life trance measure is obtaining the fyjjr't and corifideuce of the colony. 0 must he admitted by all who •e leard the matter explained, or iced into it for themselves, that the ms arn as liberal as they well can bo. lifers to the public, in fact, the two at essential -qualities of Insurance :heapness and security. Though ried on without a loss, there are profits as yet, for the scheme is in infancy, but by-and-bye, when it limes larger proportions, probably » that may arise will be divided ong the policy-holders. It is like •rv new scheme susceptible of imn'ement, but that, no doubt, will be de from time to time. The tendency the scheme-is, however, on the whole y liberal, and this liberality is shown the fact, that though a man may bo able to meet the payment of his ticy when due, it dot s not therefore ise. It has always appeared to us a •y great hardship to insurers that a a may go on paying his premiums • some time, and then, if prevented some circumstance over which he s no control from tendering payment, should lose the whole of the money had paid and his policy become void. ilonists more particularly are, owing various reasons, unable to make ch payments at the proper time, and was p. wise course adopted by the jverument to have provided, f hat six Kins after the money became due e policy may be resumed by an inker.

S Having thus given a brief outline of !'e Insurance, and passingly pointed ht a few of the advantages possessed phe Government scheme, which is iw receiving; some attention in this strict, it remains to say a word or to as to the importance of the subject Tierally —not that much is required p this score. Life Insurance carries lith it its own recommendation. It bpeals to the highest and noblest in[iucts of onr nature —to the love of ie father tor his offspring, of the usband for his wife. It satisfies our irewdness and business habits too, >rthe amount a man invests in insurig his life can never bo turned to bet;r account, not even if it were to ring him in cent, per cent, on his ivestinent.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/WEST18720130.2.10

Bibliographic details
Ngā taipitopito pukapuka

Westport Times, Volume VI, Issue 920, 30 January 1872, Page 2

Word count
Tapeke kupu
963

GOVERNMENT LIFE ASSURANCE. Westport Times, Volume VI, Issue 920, 30 January 1872, Page 2

GOVERNMENT LIFE ASSURANCE. Westport Times, Volume VI, Issue 920, 30 January 1872, Page 2

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