Clappenback v. New York Life Insurance
Wisconsin Supreme Court
Appeal from- a judgment of tbe superior court of Douglas county: Charles Smith, Judge. Plaintiffs busband, Henry Clappenback, beld a straight $1,000 life insurance policy with tbe defendant company, payable upon bis death to tbe plaintiff, containing a clause for payment of tontine accumulation of profits at end of twenty years. He bad paid premiums thereon for six years, up to October 20, 1906, but defaulted in payment of premium due at that date.
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Appeal from- a judgment of tbe superior court of Douglas county: Charles Smith, Judge. Plaintiffs busband, Henry Clappenback, beld a straight $1,000 life insurance policy with tbe defendant company, payable upon bis death to tbe plaintiff, containing a clause for payment of tontine accumulation of profits at end of twenty years. He bad paid premiums thereon for six years, up to October 20, 1906, but defaulted in payment of premium due at that date. Tbe policy provided: “This policy is automatically nonforfeitable^from date of issue, as follows: If any premium is not duly paid, and if there is…
1Opinion of the CourtDodge, J.
Tbe first and most important question is tbat of tbe true construction of tbe so-called automatic nonfor-feiture clause quoted in tbe statement of facts. This policy provided for payment of premiums considerably in excess of tbe cost of carrying tbe insurance, whether as fixed by tbe laws of New York or as ascertained by defendant’s actuaries. It therefore contemplated tbat at all times after tbe first payment tbe insured would have in tbe defendant’s bands a certain surplus or reserve fund belonging to him, which, but for agreement to tbe contrary, be should equitably have a right to…
2Cases cited5 opinions
- Rice v. Ashland CountyWisconsin Supreme Court · 1900
- Bossmiller v. StateWisconsin Supreme Court · 1902
- State ex rel. Williams v. SamuelsonWisconsin Supreme Court · 1907
- Loper v. Estate of SheldonWisconsin Supreme Court · 1903
- Pape v. Town of CarltonWisconsin Supreme Court · 1906
3Cited by10 opinions
- Pacific States Life Ins. Co. v. BryceCourt of Appeals for the Tenth Circuit · 1933
- Jeske, Admx. v. Metro. Life Ins. Co.Superior Court of Pennsylvania · 1934
- Sanders v. General Motors Acceptance Corp.Supreme Court of South Carolina · 1936
- Tumlinson v. Norfolk & Western Railway Co.Missouri Court of Appeals · 1989
- Bumpus v. Life & Casualty Ins. Co. of TennesseeTennessee Supreme Court · 1934
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