Metropolitan Life Insurance v. Smith

Mrs. Smith sued the Metropolitan Life Insurance Company on a policy of life insurance of which she was the beneficiary. The policy was issued on January 1, 1931. Her husband, the insured, was accidentally drowned on October 25, 1931. The defense was that before the death of the insured the policy *863had lapsed for non-payment of the premiums. The jury found for Mrs. Smith. The company’s motion for a new trial was overruled, and it excepted.

According to the terms of the policy, the premiums were to be paid monthly, $2.42 each month. The basic rate was $1.99 per month, which was increased to $2.42…