Homestead Supplies, Inc. v. Executive Life Insurance

Opinion

KAUFMAN, J. —

Homestead Supplies, Inc. (hereafter plaintiff) commenced this action to obtain a declaration of the correct amount of the annual premium payment due under a policy of life insurance issued to plaintiff by Executive Life Insurance Co., (hereafter defendant) on the life of plaintiff’s president. Trial was to the court without jury. Judgment was for defendant. Plaintiff appeals.

Facts

The essential facts are undisputed. Defendant’s agent and plaintiff’s president had been discussing plaintiff’s purchasing from defendant a seven-year renewable and convertible term life insurance…