Merion v. Kentucky Home Mut. Life Ins. Co.

Judge Cammaek

(dissenting).

It is admitted that, had Merion’s net equity in the coupon dividends been added to the cash surrender value before the $219 loan was deducted, the amount remaining would have been sufficient to carry the policy beyond the date of his death. I think this should have been done. It was said in the case of Commonwealth Life Ins. Co. v. Gault’s Adm’rs, 256 Ky. 625, 76 S. W. (2d) 618, 620:

“It is an accepted rule: ÉIf an insurer is indebted to an,insured, and has, or should have, in its hands, sufficient funds belonging to- and due him, to pay an assessment or a premium…