John Hancock Mutual Life Insurance v. White

This is a bill of interpleader in which a decree has been entered requiring the respondents to inter-plead.

The policy of insurance, as originally issued, was made payable to the estate of the assured. The application for the policy, however, reserved the right of the assured, with the consent of the company, to change the beneficiary. In pursuance of this right the assured executed a beneficiary slip, as it is called, by which the policy was made payable to the respondent, Margaret Dyer. The consideration for the change between the assured and Mrs. Dyer was that the latter should pay the…