Strauss v. Union Central Life Insurance
New York Supreme Court
This is a suit to reinstate a life insurance policy for $10,000 which the defendant company has declared forfeited. It was issued by the company through its general agent in the City of New York to Isaac Levy on August 15th, 1893, and assigned by him to the plaintiff on September 16th, 1893, by a written assignment absolute on its face.
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This is a suit to reinstate a life insurance policy for $10,000 which the defendant company has declared forfeited. It was issued by the company through its general agent in the City of New York to Isaac Levy on August 15th, 1893, and assigned by him to the plaintiff on September 16th, 1893, by a written assignment absolute on its face. It appears in evidence, however, that the assignment was made to secure a debt of $7,000. The plaintiff gave notice of such assignment to such -agent at the company’s office in the City of New York, and at the same time gave to him a duplicate of such…
1Opinion of the Court
Gaynor, J.:
Formerly a life insurance policy became forfeited in accordance with its terms by a failure to pay the premium on the day it came due. A statute was passed prohibiting any life insurance company from forfeiting a policy unless a notice giving the amount of the premium, when it would be due and where it could be paid were mailed to the insured by the company at his last known post office address not less than 30 nor more than 60 days before it became due (ch. 341, Laws 1876). This was amended to the effect that such notice should be mailed to the insured, “ or the assignee of the…
2Cases cited1 opinion
- Equitable Life Assurance Society v. ClementsSupreme Court of the United States · 1891
3Cited by6 opinions
- Donald W. Maloney as Trustee in Bankruptcy of Eastern Footwear Corporation v. John Hancock Mutual Life Insurance CompanyCourt of Appeals for the Second Circuit · 1959
- Gleason v. Massachusetts Mut. Life InsuranceDistrict Court, N.D. Ohio · 1942
- Jones v. New York Life Ins. Co.Supreme Court of Oklahoma · 1912
- New York Life Insurance v. EnglishTexas Supreme Court · 1902
- Davis v. Northwestern Mutual Life InsuranceNew York Supreme Court · 1917
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