Texas Life Ins. Co. v. Legg

Appellees instituted this suit to recover on a policy of insurance issued by appellant on the life of Dr. E. M. Legg; ap-pellee Minnie Ola Legg being his surviving widow, and she and the other appellees being the beneficiaries named in the policy. Appellant denied liability on the ground of failure to pay the annual premiums for the years 1913 and 1914, and alleged that the automatic paid-up value of the policy remaining after such default was applied toward the discharge of a policy loan owed by the insured at the time of his death, and that the same was consumed thereby. After hearing the…