Blalock v. Empire Life Insurance

This was an action on a life-insurance policy dated August 6, 1910, providing for the payment of an annual premium of $47.73. The first annual premium was paid. On August 6, 1911, the premiums were made payable quarterly, and the insured paid a quarterly premium of $12.65, less a dividend of 74 cents. The second quarterly premium became due on December 6, 1911 (allowing, the thirty days grace provided for in the policy). On December 22, 1911, the insured died, having failed to pay the second quarterly premium. The policy provides: “If any premiums hereon shall not be paid when due, the…