New York Life Insurance v. Gilbert

This is a suit to reform or cancel on the ground of mutual mistake an endorsement upon a policy of insurance written upon the life of defendant, Charles E. Gilbert and in favor of his wife, Myra M. Gilbert, as beneficiary. The judgment was for the defendants. The policy is on the fifteen-year payment plan and was issued on April 3, 1899, in the sum of $2500. It provided for an annual premium of $117.08, the first premium being acknowledged. The other premiums were to be paid on the 2nd day of January in each year thereafter until fifteen full yearly premiums should have been paid, at which…