18 Barb. 541 | N.Y. Sup. Ct. | 1854
John C. Buckbée, the husband of the plaintiff, insured his life with the defendants, in the sum of one thousand dollars, for the benefit of his wife. The premium of ten dollars quarterly was to be paid in advance; the first payment on the 10th March, 1851, when the policy was executed. It was provided that in case the premium should not be paid on the days specified, the policy should be void, but in such case it might be renewed at any time on the production of satisfactory evidence as to.the health of the insured, and payment in full for back premiums, with interest; a re-examination by a medical examiner of the company (at the expense of the insured) being
It will be borne in mind that in life insurances, after the original application is accepted, and the contract consummated, the insured has the benefit of the policy, whatever may happen to the health of the person whose life is insured, provided the insured complies with the condition of the contract. So that if the premium in this case had been paid on the 10th December, the plaintiff was under no obligation to say any thing about her husband’s health, for whether he was sick or well, she was entitled to insure at the rate specified in the policy.
The question, therefore, is, whether the omission to pay the premium for six days after it became due required any different course of conduct on her part. A very great latitude as to the time of payment, it will be seen, was permitted by the defendants with regard to the former payments except one; and it does not appear that even that was paid on the day when it fell due; and such, I believe, is a very common, perhaps the most usual practice in insurance companies. The premium is never*' expected upon the precise day on which it falls due. The practice of-the
It may therefore be well presumed that the delay of payment was not without the concurrence of the defendants. This being the case, there was a waiver of a literal compliance with the terms of the first condition, and in effect the policy did not require renewal, within the meaning of that condition; for in truth it was not lapsed. The precise time, indeed, specified in the contract, had elapsed: but judging from the acts of the parties, commencing with the acceptance of the original application, the policy, strictly speaking, had not lapsed. If this view is cor
Mitchell, Morris and Clerke, Justices.]