 An Act of the General Assembly of Illinois created a body politic and corporate by the name of the Travelers Insurance Company, with authority to carry on the business of insuring persons against the accidental loss of life or personal injury sustained while traveling by railways, steamers, and other modes of conveyance.Another Act formally accepted by the company, its name was changed to that of the Chicago Life Insurance Company, and was invested with power to make insurance upon the lives of individuals, and of persons connected by marital relations, to those applying for insurance, or in whom the applicant had a pecuniary interest as creditor or otherwise, "to secure trusts, grants, annuities, and endowments, and purchase the same in such manner and for such premiums and considerations as the board of directors or executive committee shall direct.