O'Brien v. New England, C., Insurance Co.

In 1924, the defendant Insurance Company issued to Mr. O'Brien, the complainant, a policy of insurance whereby it agreed to pay "upon due proof of the death of said insured $20,000 in accordance with the provisions of the clause endorsed on the third page hereof (without the right reserved to the insured to change the beneficiary)." The word out is typewritten; the other words printed. The clause endorsed on the third page reads:

"It is understood and agreed that upon the decease of the Insured, the Company, in lieu of paying the net proceeds due under this policy (including any additions…