Life Insurance Co. of Virginia v. Wood

The policy provision relating to the payment of premiums is clear. Even if it is subject to different constructions, construed against the company it means that any receipt in the form of a valid receipt which was signed by any authorized agent would be sufficient. It seems clear to me also that the provision provides for a forfeiture of the policy, with exceptions not applicable in this case, if the premiums were not paid as provided in the policy. If premiums were not paid as provided they were not paid and the policy lapsed so far as this action is concerned. The ruling in Metropolitan…