Ross v. Producers Mutual Insurance Company

CROCKETT, Justice.

Plaintiffs sued for return of all premiums they had paid Producers Mutual Insurance Company (hereinafter called Mutual) on policies because of illegal aspects of the policies. The trial court granted a motion to dismiss the complaint; hence this appeal.

The form of policy in question was called “Founders Participating Policy.” It states that it is automatically convertible at the end of a five-year period into a whole life policy to be carried by a “Producers Life Insurance” Company, not shown to be then in existence. Sold in connection with this policy was a Trust Agreement…