754

THE NEW ZEALAND GAZETTE.

the date and amount of each premium paid by him
shall be entered by the Agent to whom the premiums
are paid, and who shall affix his signature to each such
entry.

Conditions of policies.
22. Policies shall become void—
If the statements of the Proposer, as set forth in
the proposal, or in the declaration attached
thereto, be wilfully untrue; or if any other
paper or statement furnished by the Proposer,
or at his instance, on the faith of which the
policy may have been issued, shall at any time
be found to contain any wilfully untrue state-
ment; or if there shall at any time be or have
been any fraudulent concealment from the Com-
missioner of any important particular:
If payment of the weekly or other premium be not
made within five days from the date stipulated
in the policy; but such policies may be revived
at any period not exceeding twelve calendar
months after their expiration, on satisfactory
proof being given, if required by the Commis-
sioner, of the unimpaired health of the Insured,
and on payment of the premiums then in arrear,
together with a fine not exceeding one pound
for every hundred pounds of the sum assured,
and so in proportion for every sum less or
greater than one hundred pounds:
If the Insured shall reside in any part of the
globe within the twenty-fifth parallels of North
and South latitude, except in passing or re-
passing through the same by sea, without having
obtained the written consent of the Commissioner
to visit or reside within the said parallels of
latitude:
If the health of the Insured shall become impaired
by intemperance or by the practice of any vicious
habit tending to shorten life; but in such cases
the Commissioner shall be bound to pay or tender
the payment of the then surrender value of the
policy (if any):
If the Insured shall effect a policy with the Com-
missioner at any time while another policy is in
force, unless special permission be indorsed on
the policy first effected for two or more policies
to be in force at the same time:
If the Insured shall die by suicide, whether sane
or insane, within twelve months from the date
of the policy.

Policies not exceeding £50 when in benefit.
23. Policies issued for sums not exceeding £50 shall
be subject to the condition that if the Insured shall
happen to die within six calendar months from the date
thereof, of any of the following causes, viz. Accident,
Apoplexy, Cholera, Typhus or Scarlet Fever, then only
one-fourth part of the sum assured shall be payable; but
if the Insured shall happen to die within six calendar
months from any other cause or causes whatever, the
Commissioner shall not be liable to pay any sum, nor
to refund the premium or any portion thereof; but if
the Insured shall happen to die after six calendar
months, and within a period of twelve calendar months
from the date thereof, from any cause whatever, one-half
only of the sum assured shall be payable; and if the
assured shall happen to die after twelve calendar
months from the date hereof, the full sum assured shall
be payable.

Death during days of grace does not void policy.
24. The sum assured under any policy will, subject to
the last preceding regulation, be paid in case of the
death of the Insured during the five days of grace, not-
withstanding the non-payment of the premium; but the
amount so remaining unpaid shall be deducted from the
sum assured at settlement.

Proof of claim and payment of policy.
25. On the death of the Insured, notice in writing of
such death shall be immediately given to the Commis-
sioner, and the sum assured shall not be payable until
proofs of identity and death of the Insured shall have
been supplied to the satisfaction of the Commissioner,
and until the policy, together with the last Premium
Receipt Book, shall have been delivered to the Com-
missioner or other officer duly appointed to receive the
same.

Claim for £100 and upwards when payable.
26. If the sum assured shall amount to or exceed
£100, the claim will not be paid in less than one
calendar month after the proofs mentioned in the last
preceding clause shall have been given to the satisfaction
of the Commissioner.

Net value of policy.
27. The net value of any life insurance policy shall
be ascertained according to the rate of mortality of
either of those Tables known as "The Combined Ex-
perience" and "The Institute of Actuaries" Tables,
with interest at the rate of four per centum per annum.
Not less than four-fifths of the net value so ascertained
shall be allowed as the surrender value on any life
insurance policy.

Policy may be surrendered after three years' duration.
28. Any life insurance policy which has existed for
three years may be surrendered. The Commissioner
shall, within thirty days after delivery of the policy,
grant to the person entitled a paid-up policy (that is, a
policy exempted from any future payments) equivalent
to the then surrender value. On application by the
Insured within three months after any such life insur-
ance policy shall have lapsed by non-payment of pre-
miums, the Commissioner shall, within thirty days,
issue a paid-up policy equivalent to the surrender
value of the original policy at the date of its lapse:
Provided that no paid-up policy shall be issued for a
less sum than £1.

Receipt Books to be produced.
29. The Receipt Books in which are entered the
periodical payments made in respect of the Premiums
upon any Policy, shall at all times, upon the applica-
tion of the Agent, Collector, or other authorized officer
of the Commissioner, be produced and exhibited to
him.

No medical fee or postage required.
30. Every Proposer shall provide, at his own cost,
such evidence of age as shall be required by the
Commissioner, but shall not be required to pay any fee
or fees for the issue of any policy which may be made
in accordance with his proposal, or to pay any postage
for the transmission of his proposal, or for the trans-
mission of any correspondence arising out of such
proposal or policy between him and the Commissioner.

Commissioner may insert other conditions in policies.
31. In addition to the terms and conditions upon the
performance or happening of which policies issued
under the said Act are under these Regulations to
become void or to be subject to, the Commissioner may
at the time of issuing any policy hereafter granted
under the said Act, cause to be inserted in or indorsed
thereon any other terms and condition or conditions
he may think fit, upon the happening or performing
of which the said policy is to become void or is to be
subject to, and any such policy shall be deemed subject
to such terms and conditions so inserted or indorsed.