Gravlee v. New York Life Ins. Co.

On September 27, 1924, the appellee, New York Life Insurance Company, issued and delivered to the appellant, Guy J. Gravlee, two policies of insurance on his life in the sum of $2,000 each, which are identical except as to the number. They are what is commonly known as ordinary life policies, and as originally written they provided for the payment of semi-annual premiums in the amount of $26.06 each. The insured paid all of the premiums on these policies as they became due, and left the annual dividends with the company for a period of twenty years, at the expiration of which time he demanded…