Walsh v. Aetna Life Insurance

Opinion by

Mr. Chief Justice Maxey,

This is a suit on a policy of life insurance issued by the defendant on October 17,1924, to Thomas F. Walsh, in the amount of $10,000. The insured died on May 4, 1941, and his beneficiary, Elizabeth H. Walsh, brings this action. The defense to this claim is that the policy lapsed on July 19, 1934. The validity of this defense depends on the construction of the following clauses in the insurance policy:

“Section 6. The Company will make loans on the sole security of this policy, if there has been no default in payment of premium. The loan may be for any amount…