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gambling contract if the insurance is for an amount in excess of the finaneial loss. The difficulties of deter-mining what is over-insurance upon a life, however, when insured in favor of persons who are dependent upon it, coupled with the fact that the sum payable to persons whose insurable interest is limited in amount, such as creditors, is usually limited to the amount of such interest, has made this question of little importance in life insurance. Moreover, under-insurance has been the rule and over-insurance the rare exception; and the natural course of a whole life insurance, as has been seen, whether with continuous level premiums or with limited premiums or a single premium, is toward the reduction and extinction ultimately of the insurance, by the "self-insurance." Thus a gradual reduction takes place as the value of the life diminishes, because its probable duration is less. Few men, also, can afford to pay for an amount of insurance that exceeds the values of their respective lives.