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 insur- ance on such life. Butterworth v Mississippi Valley Trust Co. 362 Mo 133, 240 SW2d 676, 30 ALR2d 1298.