Osborn v. Metropolitan Life Insurance

The defendant, a New York corporation, issued a twenty-year term policy on the life of Laurence W. Osborn of Worcester in the amount of $10,000, effective February 16, 1940. The premium of $131.70 was payable annually in advance on the anniversary date. The policy was executed, issued, and delivered in Worcester. The insured died on May 7,1958, without having paid the premium due on February 16,1958, or within the thirty-one day grace period expiring on March 19, 1958. The plaintiff’s brief concedes that on the latter date “in strict accordance with its terms, the policy lapsed. ’ ’ This bill…