The Westport Times AND CHARLESTON ARGUS. In the cause of Truth and Justice we strive. MONDAY, MARCH 18, 1872.

Westport Times, Volume VI, Issue 947, 18 March 1872, Page 2

The Westport Times AND CHARLESTON ARGUS. In the cause of Truth and Justice we strive. MONDAY, MARCH 18, 1872.

A shoet time ago there was a Life Insurance epidemic very prevalent in some parts of the colony, and men rushed to insure their lives as they did to purchase shares in the celebrated Culliford Company, or other Wangapeka bubbles. To men with regular incomes insurance undoubtedly is a good thing ; but those who?e occupations are not regular, and whose incomes are consequently varying and uncertain, to say nothing of sickness intervening' should well ponder whether they will be able to meet the imperative demands of a corporate body of moneylenders. While we have such efficient and well-conducted bodies as Oddfellows and Foresters, whose business is conducted, as a rule, on the most economic principles, we should certainly not hesitate to recommend to our felloW-worlnnen to 'join one of these bodies in preference to investing in the postmortem advantages of an Insurance Company. By joining one or both these bodies a man, not only receives as a right, pay when incapable of work, and the widow aud orphan, by right, when deprived of a husband's and father's aid, but there is something glowing in the thought that, should one never require such aid, he is contributing to alleviate the si.fferiugs of his brother man. But should they insure, the greatest care should be taken to choose an office based upon the surest foundation.

The following case will show how careful persons —especially those with small aud uncertain means—should be before they venture on insuring their lives, is copied from a recent number of the " Bruce Herald :"—" An Otago settler informs us that he insured his life in the luternational Insurance Com-

pany in 1845, since which year he has paid his premiums regularly, and by last mail he was informed the society had gone to the dogs, aud made over its business to the Providential Insurance Company, which latter Company, upon completing an investigation of the affairs of the former, informs life insurers in it that they can only have one-half value for its policies, that is to say that iusurers of £IOO continue to pay the yearly premium payable'for that amount, and at death their relatives will receive £SO. We need scarcely 'say that the Otago settler referred to, who has already paid over £GO per cent, in yearly premiums, declines to have further dealings in such a venture, and we cannot wonder if he declines to have further dealings in life assurance societies, good, bad, "or indifferent." We know a gentleman in this province who insured his life in the Albert Company in England some twenty years ago, on his departure for the East Indies, for the sum of £2OOO, for which he had to pay £IOO a year. He did not stay long in India, but came to New Zealand, and wrote home "to inquire if any deduction could be made in his annual payment, as he was now living in a healthy climate. An answer was returned to the effect that no such reduction 6ouUI be made. Just as he had made his twentieth payment (£2000) the amount for which he had insured his life, the Albert Company, as is pretty generally failed. His next payment became due just at the time, and he consulted his legal adviser as to further payment, who told him he must pay another year's demand, or he would not be entitled to any dividends there might arise from the purchase or amalgamation of the Albert Company. We have since seen that the Company has been reconstructed, perhaps on a similar principle, nathely 10s in the pound, to that of the International Insurance Company alluded to above.

Once more let it be understood that we would be the last to discourage any men or women from insuring their live's, but, like every other money transaction, it requires thoughtful caution, both in the selection of an office, and in the possibility of being able to. meet the continual periodical demand.