Paulk v. STATE MUTUAL LIFE INSURANCE CO.

In an action predicated upon a “Conditional Receipt” and an application for insurance, both instruments provided that, if the first premium is paid at the time of making the application and the company is satisfied that the applicant is, according to the rules and standards of the company, an acceptable risk for the insurance applied for, the insurance shall be effective as of the date of the application or of the medical examination, whichever is the later. It appears that the applicant paid the first premium at the time of the application, but had not taken the examination when he died…