Universal Life Ins. v. Lillard

In consideration of a weekly premium of twenty-five (25c) cents Universal Life Insurance Company issued its industrial policy insuring the life of Ada B. Lillard in the face amount of $230.00. Virginia Lillard is named beneficiary. The insured died May 20, 1948 after the issuance of the policy on February 17, 1947.

Because of the provision of Section 8 of the policy the insurance company insisted that its liability is limited *113to one-fourth of the face of the policy and tendered that amount in Court when the beneficiary sued for the face amount.

At the conclusion of all the evidence the Circuit…