Chelsea-Wheeler Coal Co. v. Marvin

Arthur Parker and his wife died on July 12th, 1939, in a common disaster. His daughter, Lola Parker Marvin, qualified as executrix of his estate. In 1923 he insured his life in The Penn Mutual Life Insurance Company for $10,000. The designation of beneficiary agreement forming a part of the policy provided that the proceeds were to be paid, if his wife was not living on his death, to his daughter, Lola C. Parker (now Lola Parker Marvin) over a period of years at the monthly rate of $23.48. The designation of beneficiary agreement provided that "No beneficiary or assignee hereunder shall have…