Underwood v. State Life Insurance

The essential facts of this case.are as follows:

1. On 11 March, 1919, the defendant issued upon the life of John Underwood two policies of life insurance: No. 225378 for $3,500, and No. 225379 for $1,500; the plaintiff, wife of assured, being named as beneficiary in both policies. On each of these policies two full annual premiums were paid.

*5392. When the third annual premiums became due, on 11 March, 1921, the assured did not pay said premiums, but executed in respect to said policies two “premium notes,” one in the amount of the annual premium due in advance on policy No. 225378, to wit,…