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Thursday, 15 May 1930

Senator RAE (New South Wales) . - I desire to endorse Senator Thompson's remarks. I have heard a number of insured people comment on the subject. I consider my life is good enough to carry a premium equal to only half of what I pay. Undoubtedly the expectatiou of life is very different now from what it was 30 or 40 years ago. Improvements in sanitation, hygiene, surgery and so on have gone a long way towards lengthening the average span of human life, and policy-holders should receive some benefit. It is an entirely reasonable thing to ask that the actual assessment of expectancy of life should bebrought up-to-date, and if there is any benefit accruing to the policy-holders it should be conferred on them. I think that entirelyunnecessary overhead expenses are paid as directors' fees and so forth, and that we are. being mulcted for the benefit of the companies.

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