( 1 ) BY a policy of insurance, dated 29/06/1950, the plaintiffs brother, Viswanadham (hereinafter referred to as the assured), insured his life for a sum of Rs. 10,000. 00 with the Warden Assurance Company Limited, the 1st defendant (hereinafter referred to as the insurer ). The policy was, what is generally known as, an endowment policy. Under the terms of the policy, in return for the payment of an annual premium of Rs. 292-8-0 on May 20th of every year, for 40 years, the insurer agreed to pay the assureds heirs the sum of Rs. 10,000. 00if the death of the assured should take place before the expiration of the period, and the like sum to the assured himself if he should survive the period. There is also a special term in the policy which provided that in case the assured died in an accident, an additional sum equal to the sum assured would be paid. It is common ground that the assured nominated his wife, Anasuya, as the person to whom the money secured by the policy should be paid in the event of his death. We shall presently refer to the material terms of the policy.

( 2 ) THE assured paid the first yearly premium. The second yearly premium on the policy fell due on 20