Southern Farm Bureau Life Insurance v. Douglas

Deen, Presiding Judge.

Thetus L. Douglas brought suit against Southern Farm Bureau Insurance Company, alleging that in 1978 he had purchased a life insurance policy in the amount of $150,000 through one of its agents and that he was assured at that time that in eight years the policy would accumulate a cash value equal to his premium plus $2,000 to $3,000. The face value of the policy was later raised to $200,000. In 1983 Douglas turned his policy over to the defendant’s agent and was told that his policy was being converted into one paying a higher rate of interest, and that he had paid all…