McGrew v. Mutual Life Insurance

This is an action to declare null and void a certain joint and survivor annuity contract issued by the defendant dated February 14, 1930, and delivered February 21, 1930, upon the joint lives of the plaintiff’s intestates, Clara B. McGrew and Thomas F. McGrew. The plaintiff claims that the contract was entered into by the defendant with a fraudulent intent and that it is unfair and unconscionable. It is conceded that a single premium of $7,000 was paid. The contract provided for the payment of $835.13 in semi-annual installments of $417.57 to be made on August 14, 1930, and semi-annually…