State v. Hammerstrom

MR. JUSTICE ADAIR:

(dissenting).

At the date of his death, A. L. Hammerstrom was the owner of two contracts.

“Deferred Refund Annuity Contract” One of these contracts was with The Mutual Life Insurance Company of New York. It was designated as “Annuity No. R 28302.” It provided that if the annuitant, A. L. Hammerstrom, were to make certain premium payments for a period of twenty-four years, the insurance company would, at the expiration of that period, pay said annuitant, A. L. Hammerstrom, a monthly income of $100 per month for ten years certain and as long thereafter as the annuitant lives. In…