Noth v. Fidelity Mutual Life Insurance

On July .20, 1906, appellee, then sixty years of age, procured from appellant a $2,000 policy of insurance on the twenty-year guaranteed addition plan to be isr sued as of the age of fifty years, premiums to be fully paid in ten annual payments of $138.62 each. If living at the end of the ten-year period appellee had the option of calling for the guaranteed cash value of $1,554, together with the profits apportioned to the policy.

When issued the policy was, in effect, ten years old and the law imposed upon appellant a reserve liability of about $972 on account thereof.

Having received no…