It is probably fair to say that during the last decade problems of internal administration have faded into insignificance besides the legal problems which now arise out of a life office's relationship with its policy-holders—in particular in regard to estate duty matters.

Before examining the position in detail I would like to make some general remarks regarding the burden of estate duty on life assurance policies today. Rates of duty are progressive, as the table on page 399 shows, and bear most heavily on the large estates. Therefore, not surprisingly, a good deal of interest and effort has centred in recent years in reducing this burden.