Specter v. New York Life Insurance

Opinion by

Keller, P. J.,

On April 3, 1923, the defendant, New York Life Insurance Company, issued its policy insuring the life of Joseph Specter, then thirty-seven years old, in the amount of $2500, for a semi-annual premium of $43.05, payable October 3 and April 3 of every year during the life of the insured. The beneficiary named in the policy was the insured’s wife, Gussie Specter.

On October 3, 1930, the insured secured a loan or advance of $277 on the policy. He did not pay the semi-annual premium falling due on April 3, 1931 or any subsequent premiums. He died March 20, 1939.

His widow,…