Callahan v. John Hancock Mutual Life Insurance

By the case stated signed by counsel the following facts appear. On January 21,1947, on the application of Charles H. Callahan, hereinafter called the insured, the defendant issued a policy of insurance in the amount of $10,000 on his life, payable to the plaintiff as beneficiary. The policy declared that it was issued in consideration of the payment of the annual premium of $477.20 and of a like premium “on or before the twenty-first day of January in each succeeding year.” The amount of the policy, on the death of the insured, was to be paid “less any unpaid balanee of premium for the…