Ætna Life Insurance v. Palmer

The Court of Appeals desires instructions from the Supreme Court upon the following question, a determination of which is necessary for a decision of this case: “Where a life-insurance policy provides that ‘if any subsequent premium be not paid when due, then this policy shall cease, subject to the values and privileges hereinafter described, except that a grace of thirty-one days, during which time the policy remains in full force, will be allowed for the payment of any premium after the first, provided that with the payment of such premium interest at the rate of six per cent, per annum is…