✨ Insurance Regulations
Mar. 29.] THE NEW ZEALAND GAZETTE. 483
be made, altered, or varied under those aforesaid Acts for all or any of the purposes mentioned in the said Act: Now, therefore, His Excellency the Governor of the Colony of New Zealand, in exercise and in pursuance of the powers and authorities vested in him by the said Act, and of all other powers and authorities in this behalf vested in him, and by and with the advice and consent of the Executive Council of the said colony, doth hereby make and prescribe the rules and regulations set forth hereunder: And in further exercise and pursuance of the powers and authorities aforesaid, and by and with the like advice and consent as aforesaid, His said Excellency doth order and direct that the several tables set forth in the Schedules hereto shall be the tables to be used for the purposes of these regulations, until other provision shall be lawfully made in that behalf.
RULES AND REGULATIONS.
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In these rules, and in all policies or instruments issued or made thereunder, if not inconsistent with the context,—
“Commissioner” means the Government Insurance Commissioner holding office for the time being:
“Officer” means any person (not exempted by the said Act) employed in any permanent capacity, and paid an annual salary out of the public moneys. -
From the salary of every officer hereafter appointed whose age does not exceed forty years at date of appointment there shall be deducted monthly a sum of money, according to the rate of his salary, as set forth in the First Schedule hereto, and every such officer shall be entitled to the issue by the Commissioner of a policy conferring the combined insurance and annuity benefits prescribed in the Second Schedule hereto.
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Every such officer may, by special application to the Commissioner prior to the issue of his policy, have a provision inserted therein stipulating for the continuance of the insurance (including any additions thereto effected in accordance with No. 7 of these rules and regulations) after age sixty, in consideration of the payment to the Commissioner of the equivalent additional deductions from his salary necessary from time to time according to the rates prescribed in the Third Schedule hereto.
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From the salary of every officer hereafter appointed whose age exceeds forty years at date of appointment, and who shall within three months of date of appointment elect to take out a policy in accordance with subsection (2) of section 10 of the said Act, there shall be deducted a monthly sum of the amount prescribed in the First Schedule hereto; and every such officer, if not more than fifty years of age, shall be entitled to the issue by the Commissioner of a policy conferring either of the alternative benefits prescribed in the Fourth Schedule hereto; provided, nevertheless, that Benefit A shall not be selected unless the candidate shall pass the medical examination of the department to the satisfaction of the Commissioner. If more than fifty years of age, he shall be entitled to the issue by the Commissioner of a policy in accordance with any of the gazetted tables of the department; provided that the officer shall pass any medical examination which may be necessary for the satisfaction of the Commissioner.
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From the salary of every officer appointed before the 1st of January, 1894, under “The Civil Service Reform Act, 1886,” who shall during the year 1894 elect to effect a policy with the Commissioner under section 9 or section 10 of the said Act, there shall be deducted a monthly sum of the amount prescribed in the First Schedule hereto; and every such officer shall be entitled to the issue by the Commissioner of a policy conferring the benefits described in the Second Schedule or the Fourth Schedule hereto, or a policy in accordance with the gazetted tables of the department, as may be chosen by the officer himself; provided that the candidate shall pass any medical examination which may be necessary for the satisfaction of the Commissioner.
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The annuity of every officer who shall insure with the Commissioner under section 9 of the said Act shall be increased on account of the amount standing to his credit with the Public Trustee, to the extent shown in the Fifth Schedule hereto; and every such officer may at his option, by special application to the Commissioner prior to the issue of his policy, be entitled to the privileges set forth in No. 3 of these rules and regulations, subject to the additional deduction from his salary therein provided for.
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The monthly deduction from the salary of every officer taking out a policy under the said Act shall be increased in accordance with the First Schedule hereto whenever an increase to the salary of such officer shall bring the salary actually paid to such officer into the next higher rate of salary, as shown in the First Schedule hereto; and the Commissioner shall effect an indorsement upon the policy, stating the increase in the monthly deduction, and the corresponding increase in the benefit or benefits, which shall be calculated for the age of the officer at the date upon which such increased deduction takes effect.
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Every officer taking out a policy with the department under the said Act shall furnish such information as to date of birth, and fill up such application and other forms, as may be required by the Commissioner.
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All rules and regulations framed under the Acts in force relating to the Government Life Insurance Department shall, mutatis mutandis, apply to policies issued under these regulations, provided they do not conflict or are not inconsistent therewith.
First Schedule.
| Salary per Annum. | Monthly Deduction from Salary. |
|---|---|
| £ s. d. | |
| Under £150 | 0 8 4 |
| £150 and under £200 | 0 12 6 |
| 200 " 250 | 0 16 8 |
| 250 " 300 | 1 0 10 |
| 300 " 350 | 1 5 0 |
| 350 " 400 | 1 9 2 |
| 400 " 450 | 1 13 4 |
| 450 " 500 | 1 17 6 |
| 500 " 550 | 2 1 8 |
| 550 " 600 | 2 5 10 |
| 600 " 650 | 2 10 0 |
| 650 " 700 | 2 14 2 |
| 700 " 750 | 2 18 4 |
| 750 " 800 | 3 2 6 |
| 800 .. .. .. | 3 6 8 |
Second Schedule.
| Age Nearest Birthday. | Combined Benefits corresponding to a Monthly Deduction of 8s. 4d. | Age Nearest Birthday. |
|---|---|---|
| Insurance at Death, if before age 60. | ||
| Annuity commencing at age 60. | ||
| Payable Yearly. | Payable Half-yearly. | |
| 15 | £ 100 | £ s. d. 63 11 1 |
| 16 | 100 | 59 15 9 |
| 17 | 100 | 56 3 10 |
| 18 | 100 | 52 15 3 |
| 19 | 100 | 49 11 10 |
| 20 | 100 | 46 12 7 |
| 21 | 100 | 43 16 5 |
| 22 | 100 | 41 3 5 |
| 23 | 100 | 38 13 0 |
| 24 | 100 | 36 4 9 |
| 25 | 100 | 33 18 8 |
| 26 | 100 | 31 14 10 |
| 27 | 100 | 29 12 9 |
| 28 | 100 | 27 12 10 |
| 29 | 100 | 25 15 2 |
| 30 | 100 | 23 19 6 |
| 31 | 100 | 22 5 9 |
| 32 | 100 | 20 13 6 |
| 33 | 100 | 19 2 11 |
| 34 | 100 | 17 14 1 |
| 35 | 100 | 16 6 8 |
| 36 | 100 | 15 0 9 |
| 37 | 100 | 13 16 2 |
| 38 | 100 | 12 13 0 |
| 39 | 100 | 11 11 2 |
| 40 | 100 | 10 10 5 |
Third Schedule.
| Age Nearest Birthday. | Additional Monthly Deductions from Salary for Whole-life Insurance. (£100.) | Age Nearest Birthday. | Additional Monthly Deductions from Salary for Whole-life Insurance. (£100.) |
|---|---|---|---|
| s. d. | s. d. | ||
| 15 | 0 7 | 28 | 1 2 |
| 16 | 0 7 | 29 | 1 3 |
| 17 | 0 8 | 30 | 1 4 |
| 18 | 0 8 | 31 | 1 5 |
| 19 | 0 9 | 32 | 1 6 |
| 20 | 0 9 | 33 | 1 7 |
| 21 | 0 10 | 34 | 1 9 |
| 22 | 0 10 | 35 | 1 10 |
| 23 | 0 11 | 36 | 2 0 |
| 24 | 0 11 | 37 | 2 2 |
| 25 | 1 0 | 38 | 2 3 |
| 26 | 1 0 | 39 | 2 6 |
| 27 | 1 1 | 40 | 2 8 |
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✨ LLM interpretation of page content
🏢 Rules and Regulations for Government Life Insurance
🏢 State Enterprises & Insurance29 March 1894
Insurance, Civil Service, Regulations, Government Life Insurance, Commissioner, Officers, Deductions, Policies, Benefits, Annuity
- His Excellency the Governor of the Colony of New Zealand
- Government Insurance Commissioner
NZ Gazette 1894, No 24