The Lambertville Record

An insurance case of interest was tried in Philadelphia recently. The heirs of a gentleman who had insured his life in the New York Mutual Company brought suit to recover the money. It was shown that the quarterly premiums had been regularly paid until the last one. The payments were generally made by a clerk of the party insured. On this occasion the payment was due on the 14th of the month, but it was forgotten by the clerk until the 16th, the 15th being Sunday. The insurance agents refused to take the money, although they had received several prior payments in that way. The Company held that the policy was invalid because payment had not been made on the day designated, and when the insured gentleman died soon afterward refused to pay the insurance. The Court held that the insurance company was justified in its course, because the insured had not exactly complied with the conditions of the policy. This may be strict justice, and according to law, but if generally adopted by insurance companies it will not tend to increase their business.