Metcalf v. Montgomery

FOSTER, Justice.

In 1926, the Equitable Life Assurance Society of New York insured the life of complainant in the sum of $5,000 by issuing two. policies, each for $2,500. They provide that, if insured before he reaches the age of 60 should become totally and presumably permanently disabled, the company thereby waived payment of subsequent premiums and became obligated to pay to him a disability income, aggregating $50 per month, during the continuance of such disability. The death benefits were payable to his personal representatives.

At that time insured was indebted to the Bank of New…