Murphree v. National Life & Accident Ins.

On September 28, 1926, appellee company issued a policy of life insurance to S.R. Murphree, appellant's intestate, in the principal sum of five thousand dollars, premiums payable annually. The premiums were all duly paid up to September 28, 1931. Prior to the date last mentioned the insured had procured a loan on the policy in the sum of three hundred nine dollars and fifty-two cents, the interest on which had been paid up to the premium due date of the policy, September 28, 1931.

During the early part of September, 1931, the insured informed the field agent of the company that he desired to…