Braden c. Republic-Vanguard Life Insurance Co.

LEIBSON, Justice.

Wanda Gene Braden is the widow of Paul T. Braden, named insured in a life insurance policy issued by Republic-Vanguard Life Insurance Co. The purpose for the policy was to cover the balance on the mortgage on the Braden home in the event of Paul Braden’s death. The policy provides that the mortgage holder as shown in the application is “beneficiary to the extent of (its) interest in the policy proceeds as creditor of the Insured at the date of the Insured’s death. Any balance of policy proceeds will be paid to the Estate of the Insured.” The original mortgage holder was Pence…