Penn Mutual Life Insurance Company v. Gibson

This is a case of first impression in Colorado. The dispute arises out of a claim prosecuted by Lois P. Gibson, the defendant in error, under a double indemnity clause in a life insurance policy. We shall refer to Mrs. Gibson as the beneficiary or plaintiff; to the plaintiff in error as the Company or the defendant; and to the deceased, Edward A. Gibson, by name, as the insured or as the deceased.

The record discloses that on November 15, 1961, Edward A. Gibson insured his life in the face amount of $10,000 with the Company, a Pennsylvania Corporation authorized to do business in Colorado.…