National Fidelity Life Ins. Co. v. Gerard

In March, 1929, the plaintiff in error issued to the defendant in error a policy of insurance under the terms of which it promised to pay the beneficiary in the event of deatn of the assured the sum of $12,000 in 120 equal monthly installments. The annual premium provided for was $557.52. Gerard was then 58 years of age. The policy as delivered provided for an old age annuity of $182.04 per month for life of the assured after he attained the age of 05 years, at the option of the assured.

It is clear from the evidence that the actuary of the company made a mistake in figuring the amount of the…