Michaelson v. Sokolove

Under the terms of a $10,000 life insurance policy issued to Samuel Mervis by the Mutual Life Insurance Company of New York, the insured had the privilege of selecting one of various specified modes of settlement in favor of his wife, Mary Mervis, or of his children, if she were not living at the time of his death. The policy was issued on July 19th, 1929, and the insured died on November 19th, 1930. By an indorsement “attached to and forming a part of” the policy, and bearing the same date, the insured selected the mode of settlement designated in the policy as “Option 4,” and consequently…