54 Miss. 425 | Miss. | 1877
delivered the opinion of the court.
This bill is not maintainable, whether by its terms the policy is non-forfeitable or not. The sole object of the bill is to recover the sums the appellant has paid the appellee as premiums on the policy of insurance. The prayer of the bill for a rescission of the contract of insurance is merely as a means to that end. The aid of a court is not needed to put an end to the contract. The appellee claims that it was terminated by the failure of the appellant to pay in advance the interest on his notes held by the appellee. The appellant claims that, by the terms of the policy, he is entitled to a “ paid-up policy ” equal to the sum of his several annual premiums paid; and because this is denied by the appellee, who asserts that the policy has been forfeited, the appellant asserts a right to have the contract rescinded, and to obtain a decree against the appellee for what may be found due upon an account taken.
The appellant is not entitled to recover the premiums he has paid, because the risk was borne by the appellee and the premiums were earned. He cannot treat the contract as rescinded and abandoned by the appellee, because it has not refused or failed to do any thing it is required by its contract to do. Its denial of liability to pay, on the death of the appellant, the sum of the annual premiums paid, is the mere expression of an opinion as to its future action, and is not the legitimate subject of present litigation and decision. “ Sufficient unto the day is the evil thereof.” When the sad contingency provided for in the policj1- shall have happened, there may be a prompt recognition by the appellee of the correctness of the theory on which this bill is framed, and ready compliance with the terms of the policy as construed by the appellant.