Ruse v. . the Mutual Benefit Life Insurance Company

By the policy upon which this action is brought, the defendants insured the life of Ira D. Bugbee, for the term of his natural life, for the sole use of the plaintiff, in consideration of the sum of $97.40 in hand paid, "and of the annual premium of ninety-seven dollars and forty cents, to be paid on or before the tenth day of April in every year during the continuance" of the policy; and by a subsequent clause it was provided that, in case the plaintiff should not pay the said annual premiums "on or before the day" previously mentioned for the payment thereof, the policy should "cease and…