As the hon. member who is responsible for the bill has pointed out, in the committee and since on the floor of the house, the money that is being borrowed by policyholders is nothing more or less than their own money. The insurance companies are taking no risk at all, and the investments of the companies are not bringing in nearly as much as is being charged by them to their borrowers. I think there are very good reasons why we should stipulate a definite amount of interest, and that five per cent and no more shall be paid by borrowers. Moreover, the higher the rate the poorer the risk, and the policy is then not of as great a
value to the company; and that is distinctly true also as regards the owner of the policy, because the greater the amount of interest to be paid the less possibility there is of the borrower being able to keep the policy in shape. I do think that the hon. member for Macleod has done a great service in bringing this matter to the house and asking that the interest rate on loans made by insurance companies to policyholders should be cut down in line with the rates that are being charged to-day for borrowed money.