Tennant v. Upton
Supreme Court of New Hampshire
Assumpsit, to recover the proceeds of a policy of insurance. Transferred without a ruling by Pike, C.J., from the April term, 1916, of the superior court upon facts agreed. ■ The New York Life Insurance Company, May 16, 1895, in consideration of an annual premium of $154.20, issued a policy upon the life of James B. Tennant, the defendant’s intestate, who died April 27, 1915. The amount then due upon the policy was $4,542 less a loan of $500 to the insured.
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Assumpsit, to recover the proceeds of a policy of insurance. Transferred without a ruling by Pike, C.J., from the April term, 1916, of the superior court upon facts agreed. ■ The New York Life Insurance Company, May 16, 1895, in consideration of an annual premium of $154.20, issued a policy upon the life of James B. Tennant, the defendant’s intestate, who died April 27, 1915. The amount then due upon the policy was $4,542 less a loan of $500 to the insured. This sum plus $1.30 advance interest, paid on the loan was paid by the company to the defendant, making the amount received, by him…
1Opinion of the CourtParsons, C. J.
By the terms of the policy and the application which was made a part of the contract, the widow was to receive $1,000 and the “Bonus Additions,” if the death of the insured occurred within the accumulation period. The “Bonus Additions,” which the company were to pay with and in addition to the sum first named in the policy ($1,000), were to be equal to one half the total premiums received. The insured had paid twenty premiums of $154.20 each. One half the total is $1,542. The plaintiff is, therefore, entitled out of the proceeds of the policy to the two sums, $1,000 and $1,542. The fact that…
2Cases cited2 opinions
- Kimball v. GilmanSupreme Court of New Hampshire · 1880
- Stokell v. KimballSupreme Court of New Hampshire · 1879