Travelers' Ins. Co. v. Williams

On the 10th day of February, 1901, the Travelers’ Insurance Company issued a policy on the life of John H. Williams. This policy was issued in consideration of annual premiums of $32.32, to be paid on or before the 10th day of February in each year during the continuance of the policy, and obligated the company to pay to the beneficiary namfed therein $1,000 upon acceptance of satisfactory proof of the death of the insured during the. continuance of this policy.

On August 3, 1909, the insured and his beneficiary borrowed $80 on the policy. Interest on this loan was to run from August lOtA, and…