Lee v. Equitable Life Assurance Society

Plaintiff’s action is based on a policy of life insurance. The policy was issued by defendant company to plaintiff (then not twenty-one years old) on April 18, 1895, and it was therein promised by the company that in consideration of certain annual premiums, it would pay to plaintiff on the 18th of April, 1915, the sum of $5000, if he should be alive, and if not alive, to his mother Sue Lee, if she should be alive, and if not, to plaintiff’s heirs. The policy provided that after payment of three premiums if it should lapse for nonpayment of any other premium, it should have a certain…