Home Life Ins. Co. of N.Y. v. Stephens

Tlie appellant insurance company issued two policies of life insurance to Felix S. Stephens in exchange for two other convertible term insurance policies, the conversion being made on March 2, 1926, but the exchange was effective as of February 27, 1926, the date of the converted policies, which are identical except as to amount, one being for $3,000 and the other for $1,000. The insured died February 20,1933, and separate suits were brought by the insured’s widow, who was the named beneficiary, upon each of the policies. As the issues were identical, the cases were consolidated and tried as…