Madison v. Northwestern Mutual Life Insurance

CHIPMAN, C.—

This is an action upon a policy of life insurance, and was submitted upon an agreed statement of facts. Defendant had judgment, and plaintiff appeals. The policy was issued upon the life of P. T. Madison, payable to his wife, plaintiff herein. The face of the policy is two thousand dollars, and was on what is termed “the ten-payment life plan with premiums payable annually, $87.42, and provided for payment of the premiums partly in cash and partly by note. The cash portion was $53.24, and the note portion was $34.18.” The principal of the notes was not required to be paid before…