207. Covenants for title.

b.     Life Insurance Policies

207.     Covenants for title.

The security for a mortgage of a life insurance policy normally contains express covenants1 for whatever acts the mortgagee requires the mortgagor to perform or abstain from. The covenants by the mortgagor which are usually inserted are not to permit the policy to become void, and if it becomes void to effect a new policy in lieu of it; and to pay the premiums and deliver receipts to the mortgagee. It is also usual to insert a provision that the mortgagee may keep the policy on foot in