Buford v. Southwestern Life Ins. Co.

BOND, Justice.

On October 16, 1915, the Southwestern Life Insurance Company issued a policy of life insurance in the sum of $4,000 on the life of Jesse Elmer Buford, payable to his wife, Addie C. Buford,, subject to the right of the insured at any time to change the beneficiary, and it stipulated, among other provisions, for the payment to the insured the cash surrender value of the policy on its delivery and cancellation. At the time of the institution of this suit, the amount of the cash surrender value of the policy, less an existing indebtedness due to the company, was the sum of $649.47.

Th…