wager policy

wager policy
A contract Purporting to be one of insurance but which does not qualify as such for want of a sufficient insurable interest. 29 Am J Rev ed Ins § 434. A gambling policy; for example, a policy of life insurance wherein the person for whose use the policy was issued has no pecuniary interest in the life of the insured. Gambs v Covenant Mut. Life Ins. Co. 50 Mo 44, 47. Under the doctrine of wager life insurance policies, it is widely held to be against public policy to permit speculation in human life by allowing one having no insurable interest in the life of another to secure for himself as beneficiary a policy of insurance on such life. Butterworth v Mississippi Valley Trust Co. 362 Mo 133, 240 SW2d 676, 30 ALR2d 1298.

Ballentine's law dictionary. . 1998.

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  • Wager policy — wager wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.… …   The Collaborative International Dictionary of English

  • Wager policy — Policy Pol i*cy, n. [F. police; cf. Pr. polissia, Sp. p[ o]lizia, It. p[ o]lizza; of uncertain origin; cf. L. pollex thumb (as being used in pressing the seal), in LL. also, seal; or cf. LL. politicum, poleticum, polecticum, L. polyptychum,… …   The Collaborative International Dictionary of English

  • wager policy — noun : a marine insurance policy covering property in which the insured does not possess an insurable interest capable of legal proof …   Useful english dictionary

  • wager — wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge. [1913… …   The Collaborative International Dictionary of English

  • Wager of battel — wager wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.… …   The Collaborative International Dictionary of English

  • Wager of battle — wager wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.… …   The Collaborative International Dictionary of English

  • Wager of law — wager wa ger (w[=a] j[ e]r), n. [OE. wager, wajour, OF. wagiere, or wageure, F. gageure. See {Wage}, v. t.] [1913 Webster] 1. Something deposited, laid, or hazarded on the event of a contest or an unsettled question; a bet; a stake; a pledge.… …   The Collaborative International Dictionary of English

  • Policy — Pol i*cy, n. [F. police; cf. Pr. polissia, Sp. p[ o]lizia, It. p[ o]lizza; of uncertain origin; cf. L. pollex thumb (as being used in pressing the seal), in LL. also, seal; or cf. LL. politicum, poleticum, polecticum, L. polyptychum, account book …   The Collaborative International Dictionary of English

  • Policy book — Policy Pol i*cy, n. [F. police; cf. Pr. polissia, Sp. p[ o]lizia, It. p[ o]lizza; of uncertain origin; cf. L. pollex thumb (as being used in pressing the seal), in LL. also, seal; or cf. LL. politicum, poleticum, polecticum, L. polyptychum,… …   The Collaborative International Dictionary of English

  • Policy holder — Policy Pol i*cy, n. [F. police; cf. Pr. polissia, Sp. p[ o]lizia, It. p[ o]lizza; of uncertain origin; cf. L. pollex thumb (as being used in pressing the seal), in LL. also, seal; or cf. LL. politicum, poleticum, polecticum, L. polyptychum,… …   The Collaborative International Dictionary of English

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