NATIONAL LIFE & CASUALTY INSURANCE CO. v. Mowre

LOCKWOOD, Justice.

Appellant was defendant in a suit to collect on a life insurance policy. When the deceased first bought the policy it provided that the amount to be paid the beneficiary would he calculated under a pro ratá clause as follows:

“All approved claims against the Society shall be paid within each 60-day period after the date of notice of death. All such claims shall be paid from the Mortuary and Reserve Fund of the Society. In the event, however, that the accumulated Mortuary and Reserve Fund, together with the amount collected during such 60-day period, amounts to less than the…