Christensen v. New York Life Insurance
Missouri Court of Appeals
Appeal from St. Louis City Circuit Court. — Hon. Daniel D. Fisher, Judge. (1) The rights of the parties under the policy-note agreement are controlled by the statute as amended by the Act of March 27, 1903, whereunder at least three-quarters of the reserve less existing indebtedness, must be applied to the purchase of extended insurance.
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Appeal from St. Louis City Circuit Court. — Hon. Daniel D. Fisher, Judge. (1) The rights of the parties under the policy-note agreement are controlled by the statute as amended by the Act of March 27, 1903, whereunder at least three-quarters of the reserve less existing indebtedness, must be applied to the purchase of extended insurance. In the case at bar, the full value of the reserve, less the admitted indebtedness, was so applied and the term expired before the death of the insured. In the Smith case, 173 Mo. 329, and the Burridge case, 211 Mo. 158, the loan agreements were made prior to…
1Opinion of the CourtCox, J.
Action upon an insurance policy, trial by the court upon an agreed statement of facts and depositions, judgment for plaintiff for $741.60, and defendant has appealed.
The policy sued upon was issued December 21, 1901, to Anton Christensen, the husband of plaintiff for the sum of one thousand dollars. The premium of $52.20 was to be paid annually upon the 18th day of December. Premiums were paid up to and including December 18, 1904. On March 7, 1905, the assured procured a loan, under the terms of the policy, for $133. *554The premium, falling due December 18, 1905, and the interest on the loan,…
2Cases cited2 opinions
- Smith v. Mutual Benefit Life InsuranceSupreme Court of Missouri · 1903
- Burridge v. New York Life InsuranceSupreme Court of Missouri · 1908
3Cited by4 opinions
- Christensen v. New York Life InsuranceMissouri Court of Appeals · 1911
- Gillen v. New York Life InsuranceMissouri Court of Appeals · 1913
- Paschedag v. Metropolitan Life InsuranceMissouri Court of Appeals · 1911
- Rios v. Supreme Forest Woodmen CircleMissouri Court of Appeals · 1942