Morrow v. National Life Ass'n
Missouri Court of Appeals
Appeal from Dunklin County Circuit Court. — Ron. T. R. R. Ely, Special Judge. (1) Appellant, National Life Association, is an assessment company. McCoy v. Bankers Life Assn., 134 Mo.
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Appeal from Dunklin County Circuit Court. — Ron. T. R. R. Ely, Special Judge. (1) Appellant, National Life Association, is an assessment company. McCoy v. Bankers Life Assn., 134 Mo. App. 35. (2) The beneficiary named in a policy of insurance in an assessment company must have an insurable interest in tbe life of the assured and the rule of law permitting a person himself to insure his own life for the benefit of another is abrogated by the statute so far as assessment companies are concerned. R. S. 1909, sec. 6956. (3) Assessment insurance companies are expressly exempted by statute from the…
1Opinion of the CourtSturgis, J.
The defendant on May 16,1911, issued its policy of insurance on the life of Charles P. Vines, of Gibson, Dunklin county, Missouri, wherein it agreed to pay the plaintiff, therein designated as “creditor,” the sum of $2000. In the event of the death of the plaintiff prior to that of the insured no other beneficiary is named. As a part of the policy it is stated: “The foundation principle of. the system of insurance carried out by this association is to collect from the members such sums as are necessary for the payment of death and disability claims, accumulate a reserve fund and pay…
2Cases cited24 opinions
- Cheeves v. Anders, AdministratorTexas Supreme Court · 1894
- Equitable Life Insurance v. HazlewoodCourt of Appeals of Texas · 1889
- Masonic Benevolent Ass'n v. BunchSupreme Court of Missouri · 1891
- Cammack v. LewisSupreme Court of the United States · 1873
- Schonfield v. TurnerCourt of Appeals of Texas · 1889
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3Cited by8 opinions
- Secor v. Pioneer Foundry Co. Inc.Michigan Court of Appeals · 1969
- Atkinson v. ReynoldsNebraska Supreme Court · 1936
- Beed v. BeedSupreme Court of Iowa · 1928
- Louis Sachs and Ralph Sachs v. United StatesCourt of Appeals for the Eighth Circuit · 1969
- North American Co. for Life & Health Insurance v. LewisDistrict Court, S.D. Mississippi · 2008
3 more not listed; retrieve them via the Exa API.