Union Cent. Life Ins. v. Matthew

RUDKIN, Circuit Judge.

March 5, 1924, a policy of insurance in the sum of $75,000 on the life of Ralph L. Clements was issued by the Union Central Life Insurance Company, naming as beneficiary the Flintex Corporation, its successors and assigns, without the privilege of change of beneficiary. The policy was made effective as of January 13 of that year, and the first annual premium, amounting to $2,788.50, was paid in cash by the beneficiary. The second annual premium, which became due on January 13, 1925, was not paid, but, within tho grace period allowed by the policy, the Flintex Corporation…