Luellen v. New York Life Insurance
Michigan Supreme Court
Error to Washtenaw; Kinne, J. Assumpsit by Fannie Luellen and another against the New York Life Insurance Company on a policy of insurance. Judgment for plaintiffs on a directed verdict. Defendant brings error. On May 11, 1897, defendant, a mutual life insurance company, executed at its New York office a policy of insurance upon the life of Albert G. Denmark, on the 20 payment life, 20 year accumulation plan, to which policy was attached the application therefor.
Read the full summary
Error to Washtenaw; Kinne, J. Assumpsit by Fannie Luellen and another against the New York Life Insurance Company on a policy of insurance. Judgment for plaintiffs on a directed verdict. Defendant brings error. On May 11, 1897, defendant, a mutual life insurance company, executed at its New York office a policy of insurance upon the life of Albert G. Denmark, on the 20 payment life, 20 year accumulation plan, to which policy was attached the application therefor. It was one of 16 policies issued by defendant during that year on the same plan to men of the same age as Mr. Denmark. The…
1Opinion of the CourtFellows, J.
(after stating the facts). This record disclosed and it should be obvious that while an insurance company may calculate its reserve with certainty, its prospective surplus or profits over a future period of years would be contingent upon the happening of so many uncertain events that its amount would be highly problematical. The amount apportionable to a policy of any class would be so dependent upon the number of lapses, the rate of interest its investments would earn, its expense of doing business, its losses, taxes, adverse or favorable legislation, its volume of business, and so many…
2Cases cited14 opinions
- Quinlan v. Providence Washington InsuranceNew York Court of Appeals · 1892
- Keithley v. Mutual Life InsuranceIllinois Supreme Court · 1916
- Williams v. New York Life InsuranceCourt of Appeals of Maryland · 1913
- Porter v. Home Friendly SocietySupreme Court of Georgia · 1902
- Barry & Finan Lumber Co. v. Citizens' InsuranceMichigan Supreme Court · 1904
9 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Harts v. Farmers Insurance ExchangeMichigan Supreme Court · 1999
- Connecticut Fire Insurance Co. v. RobertsCourt of Appeals of Kentucky (pre-1976) · 1928
- Blos v. Bankers Life Co.California Court of Appeal · 1955
- Raker v. Service Life InsuranceMissouri Court of Appeals · 1932
- Harts v. Farmers Insurance ExchangeMichigan Supreme Court · 1999