New York Life Insurance v. Campbell

In 1928 appellant caused to be issued its policy of life insurance by the terms of which it insured the continued life of Bruce Campbell, and a corporation in which the insured was financially interested was designated therein as beneficiary. On February 4, 1932, the original policy was reissued and Anna L. Campbell, wife of the insured, was named therein as beneficiary. This policy expressly provided that “this policy takes effect as of the nineteenth day of November, 1928, which day is the anniversary of the policy.” On March 19, 1932, the policy lapsed for nonpayment of premium and on…