It is, therefore clear that the exemption contemplated by section 5 (1) (vi) covers interests of an assessee in all types of insurance policies and the expression 'any policy of insurance ' in the said provision would a fortiori attract within its ambit or scope a deferred annuity policy based on human life, it being a species of life insurance policies and, therefore, unless there is some warrant to cut down the ambit or scope of that expression the right or interest of an assessee in such a policy would be exempt from the charge of wealth tax unless of course any moneys thereunder have become due and payable to the assessee on the valuation date Counsel for the revenue urged a two fold contention in support of the plea that there is such a warrant to cut down the ambit or scope of the expression 'any insurance policy ' occurring in section 5 (1) (vi) and confine it to life insurance policies of the usual type where in consideration of periodical premia the stipulated lumpsum becomes payable upon the death or happening 578 of an event dependant upon duration of human life, that is to say the usual Life Policies or Endowment Policies.