In re Dolan

J. B. McPHERSON, District Judge.

In December, 1903, the bankrupt took out a 30-year endowment policy in the Prudential Insurance Company of America for $10,000, payable to herself, or, in the event of her death during the endowment period, to her executors, administrators, or assigns. The application contained the following question and answer:

“Q. Do you wish the privilege of changing the beneficiary at any time, if the policy or any interest therein be not then assigned? A. Yes.”

*950And the policy contained, inter alia, the following provisions:

“Cash Surrender Valúe. — If this policy he legally…