Smith v. Mutual Trust Life Insurance

Plaintiff snes for reformation of a life insurance policy and for the return of premiums paid thereon. On May 4, 1950, the defendant issued its “term policy” insuring the life of plaintiff for the term of five years. Attached to and forming part of the policy were two riders, one of which provided for waiver of premiums in the event of total and permanent disability of the insured. The policy, in the language following (as amended by indorsement) granted to the insured the privilege of conversion: ‘ ‘ Within eight years from its date of issue, or within five years if this policy is on the…