Mutual Life Ins. v. Latimer

JENNEY, District Judge.

This suit for a declaratory judgment was brought by the Mutual Life Insurance Company of New York to' determine whether the proceeds of a policy issued by it are, in accordance with the terms of said policy, exempt from execution by a creditor of the primary beneficiary.

The life insurance policy in question was issued by complainant to Howard J. Latimer on August 27, 1917. On August 27, 1931, on default of the premium payment, the policy lapsed and was converted into extended term insurance, before the expiration of which term, and on March 15, 1936, the insured died.

In…