Reserve Loan Life Insurance v. Compton

On June 13,1928, appellant, Reserve Loan Life Insurance Company, issued two policies of life insurance, by the terms of which it insured the life of Thomas Walter Compton for the aggregate sum of two thousand dollars, and appellee, Desiree Miller Compton, was designated therein as beneficiary. On March 25, 1934, the insured died, and this suit was brought by the beneficiary to recover the sums alleged to be due on the contracts aforesaid. Appellant defended against appellee’s claims upon the theory that the two policies lapsed for nonpayment of premiums due on June 25, 1933. The pertinent…