Columbus Mutual Life Ins. Co. v. Hines

In support of her right to recover, the beneficiary takes the position that since the policy had been in force for more than three years, even though the indebtedness of the insured to the company equalled or exceeded the cash or loan value of the policy, the company could not, upon the failure of the insured to pay the loan when due, summarily declare the policy void, having failed to give the month’s notice stipulated under the “loan” clause of the policy; that the failure to give such notice continued the insurance in force until the insured’s death, at which time the beneficiary had the…