Pressly v. Pilot Life Insurance

The opinion of the Court was delivered by

Mr. Justice StabrEr.

This is an action on an insurance policy issued by the defendant company on the life of one Dr. John Pressly. As questions only of law were involved, there being no dispute as to the facts, the case was tried before Judge Johnson without a jury. The issues had to do with the interpretation of certain provisions of the policy called “nonforfeiture privileges,” and made, as argued here, substantially the following questions: Cl) Does the reduction provided for by the policy, where there is an outstanding loan, apply to the extended…