District Court, S.D. New York October 25, 1920 (Lovinger v. Garvan)

LEARNED HAND, District Judge

(after stating the facts as above). [1] The beneficiary of a policy such as this has a contingent interest, which'becomes absolute upon the death of the insured, Irving himself. That interest is, however, subject to defeat by the reserved power of the insured to change the beneficiary and appoint another.