Equitable Life Assur. Soc. of United States v. First Nat. Bank of Union Springs

WALKER, Circuit Judge.

This was an action by the appellee on two policies of insurance in the sum of $20,000 each issued in September, 1926, by the appellant upon the life of William C. Ellis, who died on October 25, 1926. Each of the policies contained the following provision: “Self-destruetion sane or insane, within one year from the date of issue hereof, is a risk not assumed by the Society under this policy. In such an event the Society’s liability shall be limited to an amount equal to the premium actually paid.” The appellant by pleading alleged that the insured took his own life by…