Ashbrook v. Phœnix Mutual Life Insurance
Supreme Court of Missouri
Appeal from St. Louis CUty Circuit Court. — How. W. H. Horner, Judge. (1) The failure to pay the premium by the terms of the policy authorizes the forfeiture. Thompson v. Insurance Co., 104 U. S. 252, 260. (2) A paid-up policy would have required the payment of the interest due on the four notes, which was not tendered; otherwise defendant would have been required to.carry the risk for nothing. There was no" surrender of the policy. Smith v. Ins. Co., 4 Bigelow’s Ins.
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Appeal from St. Louis CUty Circuit Court. — How. W. H. Horner, Judge. (1) The failure to pay the premium by the terms of the policy authorizes the forfeiture. Thompson v. Insurance Co., 104 U. S. 252, 260. (2) A paid-up policy would have required the payment of the interest due on the four notes, which was not tendered; otherwise defendant would have been required to.carry the risk for nothing. There was no" surrender of the policy. Smith v. Ins. Co., 4 Bigelow’s Ins. Reports, 421. (3) If -defendant did wrongfully refuse to issue a paid-up policy, such refusal did not require defendant to…
1Opinion of the CourtBlack, J.
The defendant, by its policy, dated the-thirteenth of July, 1868, insured the life of Obadiah Ashbrook in the sum of five thousand dollars for the sole use of his wife, the plaintiff, on the plan of annual payments. The- consideration was- a premium of one-*75hundred and ninety dollars, to be paid on the thirteenth-of July of each year. The policy contains this stipulation : ,
“And the said company do further promise and agree, that, if after having received not less than three , (3) annual premiums, this policy shall be surrendered while in force, a new policy will be issued for the whole amount…
2Cited by11 opinions
- State Ex Rel. Missouri State Life Insurance v. AllenSupreme Court of Missouri · 1922
- Davis v. Missouri Pacific Railway Co.Supreme Court of Missouri · 1893
- Mitchell v. Farmers Insurance ExchangeSupreme Court of Missouri · 1965
- Darby v. Northwestern Mutual Life InsuranceSupreme Court of Missouri · 1922
- French v. Columbia Life & Trust Co.Oregon Supreme Court · 1916
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