Northey v. Bankers' Life Ass'n

Citations

• 110 Cal. 547
• 42 P. 1079
• 1895 Cal. LEXIS 1095

Syllabus

<p>Lira Insurance—Maturity of Assessment—Construction of Policy.— The language of a policy of life insurance is to be construed most strongly against the insurer; and a premium or assessment which is payable during a specified month is presumed to be payable upon the last day of the month, in the absence of anything more definite in the policy fixing * the day or date of maturity of the obligation.</p> <p>Id.—Notice of Assessment—Time of Payment.—A notice that an assessment must be paid during the month of April is, in effect, a notice that the insured would have to and including the last day of April in which to make the payment.</p> <p>Id,—Effect of Holiday—Death upon Following Day—Nonpayment of Assessment—Forfeiture,—Where the last day of the month upon which an assessment or premium is to fall due is a holiday, the assured has all of the first day of the following month in which to make the payment; and if the insured person dies on that day, the policy is not forfeited for nonpayment, under a provision that membership shall cease upon failure of the assured to make any payment due from him to the association at its maturity in specified months, and the amount of the policy may be recovered by the assured from the life association.</p>