BAILEY v. JEROME et al

Mr. Robert McC. Figg, Jr., for appellants, cites: Under insurance policy payable to children, grandchildren take interest of their parent: 42 Conn., 60; 44 L.R.A., 689; 45 S.W., 784; 56 N.W., 535. Interest of children is vested and descends to their heirs: 114 S.C. 306; 97 S.C. 299; 128 U.S. 195; 212 Mass. 310. Life insurance not contract of indemnity: Joyce Ins. 29, 65; 9 East., 72; 15 Com. B., 365. Messrs. Rutledge, Hyde Mann, for respondent, cite: Insurance policy must be construed according to the law of contracts: 41 L.R.A. (N.S.), 250; 115 N.Y., 152; 133 N.Y., 408; 80 N.E., 203; 46 Sou., 697; 13 R.I. 149. Should not be treated as a testamentary disposition: 56 S.C. 10; 2 DeS. Eq., 309; Bail. Eq., 7; 1 Strob. Eq., 87; 16 S.C. 220. Children will not include grandchildren: 59 S.C. 160; 6 Rich Eq., 401.