In re the Judicial Settlement of the Accounts of Seiler

The appellant seeks to surcharge the accounts of the administratrix with the amount of the proceeds of a policy of industrial life insurance written on the life of the deceased. The respondent administratrix contends that the proceeds of the policy belong to her individually and constitute no part of the estate of her husband. The evidence taken on the hearing has been reduced by consent of the parties to a short statement of “ stipulated facts.”

*304The policy contained the following clause: “ Facility of payment— Except as payment of death benefits shall be made to a Beneficiary designated by…