Osborne v. Home Life Insurance

Citations

• 123 Cal. 610
• 56 P. 616
• 1899 Cal. LEXIS 1127

Syllabus

<p>Life Insubance—Nonfobfeitube Law of New Yobk—Consteuction of Contbact.—The nonforfeiture law of New York requiring notice of nonpayment of a life insurance premium to be addressed and mailed to the person assured, or to the assignee of the policy, if notice of the assignment has been given, requiring payment thereof within thirty days, to prevent a forfeiture of the policy, enters into and becomes part of the contract of life insurance with a New York company, and so far modifies its conditions that no forfeiture for nonpayment of premium can take place without such notice.</p> <p>Id.—Notice to “Pebson Assubed”—Beneficiabt not Included.—The notice required by the statute of New York to be given by a life insurance company of that state to the “person assured,” denotes the person whose life is assured, and does not include the beneficiary named in the policy.</p> <p>Id.—Pleading—Tender of Premium—Forfeiture.—The plaintiff in an action upon a policy of life insurance in a New York life insurance company, is not required to allege or prove the tender of the annual premiums when due. There can be no forfeiture for nonpayment of premiums, unless the defendant alleges and-proves nonpayment after due service of the notice required by the statute.</p> <p>Id.—Waiver of Notice—Power to Declare Forfeiture.—A waiver of notice on the part of the insured cannot be construed to confer a power to declare the policy forfeited for nonpayment of premiums, which the law has taken away, and does not permit, unless the notice is given.</p>