vi"   CONTENTS

SECTION   PAGE

(iii) After Failure of a Condition (With Special Attention

CHAPTER 3

RIGHTS AND POWERS OF THE BENEFICIARY, THE INSURED, AND THE ASSIGNEE PRIOR
TO THE MATURITY OF THE POLICY

1. Insurable Interest as a Condition Precedent to the Rights and Powers of

the Beneficiary    °   °   235

1.  Where Insured is the Moving Party    235

2.  Where the Beneficiary is the Moving Party    240

Stranger to Insured as Beneficiary    240

Relative of Insured as Beneficiary    272

1. In General    272

2. Husband or Wife    274

3. Brother or Sister   276

4. Parent or Child   .. 280

5. Other Relatives    °-   288

Creditor of Insured as Beneficiary    290

Business Associate of Insured as Beneficiary    304

2. Nature and Extent of Interests Created    312

(a)   In General    ................................... 312

1. The Reserve—Surrender Value—Policy Loans    312

2.  Options Available Upon Lapse    320

3. Dividends    ............   325

4. Reinstatement    327

(b) Under a Policy not Expressly Reserving in the Insured the Power

to Change the Beneficiary   329

(c) Under a Policy Payable to Insured's Estate or Expressly Reserving

a Power to Change the Beneficiary    347

(1) Power to Change Beneficiary    347

1. Where the Beneficiary is a Donee    347

2. Where the Beneficiary Gives Consideration    357

(2) Power of Assignment   361

1.  Where the Policy is Payable to the Insured, His Estate

or Representatives    361

2. Where the Policy is Payable to a Designated Beneficiary 368

(3) Power to Surrender the Policy    377

(4) Rights Upon Repudiation   380

(5) Power of Rescission    °   ----   ............. 385

(6) Descent    385

(7)   Power to Will   ...................... 393

(1) (2)

(3) (4)