Simonson v. Michigan Life Insurance

On November 4, 1966, the Merchants & Miners Bank of Calumet made a loan to Oliver Simonson, the decedent, of $5,331.12. After the loan had been approved, the bank’s cashier asked the decedent if he wished to purchase creditor life insurance. The decedent replied in the affirmative. The cashier then explained the extent of coverage available to the decedent. Finally, the cashier entered the decedent’s age in the appropriate blank in a writing entitled “Election and Agreement” and presented that writing to the decedent for his signature. The final paragraph of the document, located immediately…