Leonard v. Prudential Insurance Co. of America
Wisconsin Supreme Court
Appeal from a judgment of tbe circuit court for Chippewa-county: A. J. ViNje, Circuit Judge. Action to recover on a policy of life insurance. The complaint contained a statement of facts necessary to recover on a $1,000 policy issued by the defendant on the life of Thomas Bertram Leonard, for the benefit of the plaintiff.
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Appeal from a judgment of tbe circuit court for Chippewa-county: A. J. ViNje, Circuit Judge. Action to recover on a policy of life insurance. The complaint contained a statement of facts necessary to recover on a $1,000 policy issued by the defendant on the life of Thomas Bertram Leonard, for the benefit of the plaintiff. These facts, among others, were alleged: The policy was issued July 8, 1902. The annual agreed payment was $26.55. It was required to be paid on the 8th day of July in each year till the contract matured. The assured died January 28, 1905. He failed to make the payment for…
1Opinion of the Court
MaRSíiall, J.
The appeal must be tested by the plain obligations of the insurance contract, and a few — perhaps but one — very familiar principles of law.
The failure of the assured to pay the 1904 premium, due July 8th of that year, did not work a forfeiture of the policy. It caused, what is termed in the policy, a “lapsethe commencement of a period of two years during which it still possessed such vitality that, had death occurred within the first 120 days thereof, the appellant would have been liable for the *353full amount stipulated in tbe policy; and tbat for tbe full term tbe assured, bad be…
2Cited by24 opinions
- Thompson v. . Postal Life Ins. Co.New York Court of Appeals · 1919
- Prudential Insurance Co. of America v. Union Trust Co.Indiana Court of Appeals · 1914
- Kahn v. Continental Casualty Co.Illinois Supreme Court · 1945
- Missouri State Life Ins. Co. v. HearneCourt of Appeals of Texas · 1920
- Rothschild v. N. Y. Life InsuranceSuperior Court of Pennsylvania · 1932
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