Bittinger v. New York Life Insurance

The is an appeal from a judgment in favor of defendant insurance company in an action by plaintiff, as beneficiary under a life insurance policy, to recover the death benefit provided therein.

On April 1, 1905, a $20,000 life insurance policy was issued by respondent company on the life of appellant’s husband. There was a provision for cash loans on the sole security of the policy and a further provision that if any indebtedness remained unpaid at the death of the insured, then the full sum of $20,000 would not be paid in installments as provided, but one sum of $13,000 would be paid, less any…