insurance on lives

INSURANCE ON LIVES, contracts. The insurance of a life is a contract whereby 
the insurer, in consideration of a certain premium, either in a gross sum or 
periodical payments, undertakes to pay the person for whose benefit the 
insurance is made, a stipulated sum, or an annuity equivalent thereto, upon 
the death of the person whose life is insured, whenever this shall happen, 
if the insurance be for the whole life, or in case this shall happen within 
a certain period if the insurance be for a limited time. 2 Marsh. Ins. 766; 
Park on Insurance, 429. 
     2. The insured is required to make a representation or declaration, 
previous to the policy being issued, of the age and state of health of the 
person whose life is insured and the party making it is bound to the truth 
of it. Park, Ins. 650; Marsh. Ins. 771; 4 Taunt. R. 763. 
     3. In almost every life policy there are several exceptions, some of 
them applicable to all cases, others to the case of insurance of one's life. 
The exceptions are, 1. Death abroad, or at sea. 2. Entering into the naval 
or military service without the previous consent of the insurers. 3. Death 
by suicide. 4. Death by duelling. 5. Death by the hand of justice. The last 
three are not understood to be excepted when the insurance is on another's 
life. 1 Bell's Com. 631, 5th ed. See 1 Beck's Med. Jur. 518.