Pearson v. Massachusetts Mutual Life Insurance

This is an action by the beneficiary against an insurance company to recover the face value of a life insurance policy. Payment is resisted on the ground that the policy lapsed because of non-payment of premium. The policy is a Massachusetts policy, issued on October 24, 1929. The first annual premium of $139.32 was paid. The second annual premium, due October 24, 1930, has not been paid. On January 22, 1930, a dividend was declared by the defendant, payable on the anniversary dates of policies in force during that year. In accordance with this resolution, a dividend of $37.38 on this policy…