Kramer v. Mutual Life Insurance Co. of N. Y.

Opinion by

Keller, J.,

This is an action of assumpsit on a policy of life insurance, for $2000, issued March 24, 1925. The policy, attached to the plaintiff’s statement, showed by an endorsement upon it that on January 19, 1933 it had been assigned to the insuring company, this defendant, as security for a loan, which loan and the interest thereon constituted an indebtedness against the policy. The amount of the loan was not stated in the endorsement.

The plaintiff, the beneficiary named in the policy, notwithstanding this endorsement brought suit for the face value of the policy, $2000, and…