American General Life Insurance v. First American National Bank

Donald L. Corbin, Judge.

This appeal comes to us from Pulaski County Circuit Court, Second Division.1 The trial court found in favor of appellee, First American National Bank. Appellant, American General Life Insurance Company, raises two points on appeal. We reverse the decision of the trial court and dismiss appellee’s complaint.

Young Electric Company purchased a life insurance policy on the life of Robert Reynolds Young from appellant, American General Life Insurance Company, in 1974. A supplementary agreement to this policy contained a premium waiver disability benefit. In 1976, Young…