First Life Assurance Co. v. Counting House Bank

HOFFMAN, Judge.

Defendants-appellants First Life Assurance Company and First Equity Security Life Insurance Company appeal a $20, 939.63 judgment awarded to plaintiff-appel-lee Counting House Bank.

The evidence relevant to this appeal discloses that the Bank's debtor, J. Robert Kelly, obtained credit life insurance through the Bank to secure a series of loans made by the Bank beginning March 7, 1981 through the time of Kelly's death by suicide on December 19, 1983. Each loan was for a period of six months based upon an assignment of a six-month renewable certificate of deposit by Betty Kelly,…