Willingham v. Equitable Life Assur. Soc.

HUTCHESON, Circuit Judge.

Appellant is the widow of Harold S. Willingham, deceased. As beneficiary of a life insurance policy for the principal sum of $15,000 issued to him by appellee, she brought this suit upon it as a death claim. The defense was lapse for nonpayment of premium. To meet this defense appellant put forward three contentions: (1) Payment by applying under the policy terms for and directing the application of the available loan value to pay it; (2) waiver of default by the appellee and estoppel to claim it, evidenced by granting extensions of time to pay the premium and…