Buchholz v. Tennessee Farmers Life Reassurance Co.

OPINION

W. FRANK CRAWFORD, P.J., W.S.,

delivered the opinion of the court,

in which ALAN E. HIGHERS, J. and HOLLY M. KIRBY, J., joined.

Beneficiary of life insurance policy sued insurer to collect proceeds of policy. Insurer defended on the ground that the policy had lapsed for nonpayment of premium before the expiration of the thirty-one day grace period provided in the policy. The beneficiary contends that the grace period had not expired prior to the death of the insured, because the premium payment date in the policy was changed by the insurer’s accepting premiums from an automatic bank…