Legal Opinion
Alabama Nat. Life Ins. Co. v. Smith
Supreme Court of Alabama
Decided May 13, 1926No. 4 Div. 234PublishedCited by 5 opinions
1Opinion of the Court
Opinion.
BOULDIN, J.
The inquiry is: Did the policy have a loan value, in excess of the unpaid loan, to carry the policy to the death of the insured, notwithstanding nonpayment of premium? The loan clause expressly declares the loan values shown in the table shall begin when the contract “shall have been in force two years * * * and the premiums on the contract shall be paid in full to the end of the next policy year.”
The table shows a loan value óf $73 at the end of the second policy year, or when the policy has been in force two years. The second policy year ended March 25, 1921. On payment…
2Cases cited4 opinions
- Dibrell v. Citizens National Life Ins.Court of Appeals of Kentucky · 1913
- Fidelity Mutual Ins. v. OliverMississippi Supreme Court · 1916
- Meridian Life Ins. Co. v. HobbsSupreme Court of Alabama · 1917
- New York Life Insurance v. SmithSupreme Court of Alabama · 1903
3Cited by5 opinions
- Penn Mut. Life Ins. Co. v. FiquettSupreme Court of Alabama · 1934
- Bach v. Western States Life Ins.Court of Appeals for the Tenth Circuit · 1931
- Colonial Life and Accident Insurance Company v. Sarah Ethel WilsonCourt of Appeals for the Fifth Circuit · 1957
- Stubbs v. Philadelphia Life Ins. Co.Supreme Court of South Carolina · 1929
- Allstate Life Insurance Company, Inc. v. StephensSupreme Court of Alabama · 1976