Washington National Insurance Company v. Simmons

October 1, 1924, the National Life Insurance Company of Chicago issued to appellee’s husband, Andrew J. Simmons, its twenty-pay non-partiei-pating endowment policy for $3,000, with annual premiums of $105.48 which became due and payable October 1 each year, with a grace period of 30 days. Because of some physical defect or disability, the insured, who was 36 years of age at the time, was rated up 5 years. On February 12,1934, the Hercules Life Insurance Company reinsured the business of the National Life, including this policy, under a reinsurance agreement, one of the conditions of which…