Watts v. Equitable Life Assurance Society

The plaintiff is the holder of a semi-ton-tine insurance policy by which policy the defendant agreed, in consideration of a certain yearly premium, to pay to the plaintiff, at the expiration of twenty years, a certain sum of money, provided the policy had not sooner lapsed, or had been terminated by death; and also agreed at the expiration of that period that it would apportion equitably, among such of its policies of the same class as that held by plaintiff as should complete their tontine dividend periods, all surplus of profits derived from such of its policies on the semi-tontine plan a,s…