Hoffman v. New York Life Insurance

John A. Hoffman was the holder of two policies of insurance issued to him by the New York Life Insurance Company. Sarah C. Hoffman was named as beneficiary in said policies. There were two premiums due on said policies on May 3, 1919, amounting to $250 each. Hoffman was unable to pay said premiums in cash and on that day executed his two promissory notes payable to said insurance company each for $250, with interest thereon from date. Each note recited on its face that it is a premium lien note and given in lieu of cash for premium; that it is a lien against the policy and that the amount due…