Miller v. New York Life Insurance

Opinion op the Court by

Judge Clarke —

Affirming.

In 1889 and 1893, respectively, the New York Life Insurance Company issued two deferred dividend policies for $5,000.00 each to appellant, Miller, on the twenty-year distribution policy plan, with mortuary dividend features. The premiums were paid, as due, upon each policy during the deferred dividend periods, when settlements were had in which, on the first policy appellant was paid in insurance the equivalent of $824.80 as the accumulated dividends due him, and on the second policy he was paid in cash $982,10 as the dividends due him on that…