Volunteer State Life Insurance v. McGinnis

1. “A policy of ordinary life insurance, payable to a named beneficiary, provides: ‘ The insured may, at any time while this policy is in force, by written notice to the company at its home office, change the beneficiary or beneficiaries under this policy. . . This policy is issued with the express understanding that the insured may, without the consent of the beneficiary, receive every benefit, exercise every right, and enjoy every privilege conferred upon him by this policy.’ Held, . . that in an action on the policy by the beneficiary,' the beneficiary has not such interest in the policy…