Caplin v. Penn. Mutual Life Insurance

The material facts in this case are not in dispute, the real controversy having to do with the proper construction of certain clauses contained and set forth in two policies of life insurance issued by the defendant company to one Harry Caplin on March 26, 1913. One of the policies was for $40,000 and the other for $20,000. Both policies are identical in form and terms and vary only as to amount and premiums. No particular beneficiary was designated, the company only being obligated to pay the amount “ unto the beneficiaries named and in accordance with the provisions of clause 17 on page 3.”…