Fischer v. Northwestern Mutual Life Insurance

Plaintiff is the beneficiary of a policy in defendant insurance company on the life of her husband, Carl H. F. Fischer, who on August 12, 1928, insured with defendant company and received therefrom an insurance policy known as a “term policy.” This policy, on August 5, 1931, was converted into an ordinary life policy with an annual premium due and payable on August 12th. In addition to this policy, Mr. Fischer carried two term policies with defendant company on which premiums were also payable on August 12th. Each of these policies contained a clause providing a 31-day period of grace for the…