McDonnell v. Mutual Life Insurance

Clarke, J.:

On October 23,1893, Henry McDonnell, husband of the plaintiff, took out a policy of insurance in the defendant company by the terms of which the defendant agreed to pay to plaintiff the sum of $1,000 upon the death of the insured during the continuance of said policy upon the terms and conditions therein stated. Among other provisions of said policy was the following : “ Dividends —■ This policy is issued on the 15 year distribution plan. It wdll be credited with its distributive share of surplus apportioned at the expiration of 15 years from the date of issue. Only 15 year…