Ada J. Vant and Walter J. Vant v. The Mutual Benefit Life Insurance Company, a Corporation

HASTIE, Circuit Judge.

On March 23, 1920, the late George H. Vant amendéd the settlement provision of his application to the defendant for insurance in the amount of $25,000 on his life. In accordance with that amendment, policies were issued to provide in relevant part that on the death of the insured, the defendant would hold the proceeds, pay the widow interest at 3% per year for life, and upon her death pay the son interest at the same rate until January 1, 1943, and then pay the son thé entire amount of the proceeds. The application directed that “the right of the withdrawal is to be…