Horace Gray

“ In defining each of these two cases, the statute, while allowing the holder to make a new bargain with the company, at the time of surrendering the policy, and upon such terms as, on the facts then appearing, are satisfactory to him, yet significantly, and, it must be presumed, designedly, contains nothing having the least tendency to show an intention on the part of the legislature that the company might require the assured to agree in advance that he would at any future time surrender the policy, or lose the benefit thereof, upon any terms but those prescribed in the statute. ”

“ By the Revised Statutes of Missouri of 1879, in force when this policy was made, it was enacted as follows: By section 5983, 'no policy of insurance on life, hereafter issued by any life insurance company authorized to do business in this state, shall, after payment upon it of two full annual premiums, be forfeited or become void by reason of the non-payment of premium thereon ”