Mut. Life Ins. Co. v. Allen, 178 U.S. 351 (1900)

e ime never paid or offered to pay any p. 352premium, or any part of any premium, due upon said policy subsequent to that paid upon the delivery thereof as aforesaid. That it was expressly in said policy provided that the insurance thereon was payable to the insured, Samuel B. Stewart, or his assigns; that the said Samuel B. Stewart never made any transfer or assignment of said policy of insurance; that the said defendant entered and noted said policy of insurance upon its books as forfeited and lapsed for failure to pay the annual premium falling due on said policy on said eighteenth day of February, 1894. That the said Samuel B. Stewart was at all times advised that defendant had so treated said policy as lapsed and forfeited, and notwithstanding said notice, and notwithstanding the said Samuel B. Stewart was at all times advised, he had not paid the premium due on said policy February 18,1894, consented to the forfeiture and termination of said policy of insurance ; and with a mutual knowlege and understanding on the part of defendant and said Samuel B. Stewart, the said policy was at all times by the said parties deemed terminated from and after the eighteenth day of February, 1894; and relying upon such knowledge and mutual understanding, the said le fendant never subsequently mailed or served any notice of t e due date of premiums to or upon said Samuel B. Stewart during his lifetime, and the said Samuel B. Stewart, at all times n0^ ing that the defendant was treating said policy as forfeited ana lapsed, and at all times knowing that he had not paid or • dered payment of any premium upon said policy su sequen the first annual premium paid as aforesaid on t e eive said policy, acquiesced in and agreed to the sai mui ua standing that the said policy was lapsed an or ei ’ A mutual agreement and consent both the sai e en Samuel B. Stewart agreed and consented to e. forfeiture of said policy of insurance from and afte ¥ eenth day of February, 1894.’’ who was