Mutual Life Insurance v. Henley
Supreme Court of Arkansas
Appeal from'Monroe Circuit Court; Thos. C. Trimble, Judge; statement by' the court. J. B. Henley, guardian for J. B. Henley, Jr., sued the Mutual Life Insurance Company of New York to recover $3,000.00, the amount of an insurance policy issued by it to Addie L. Henley, payable to J. D. .Henley, Jr., her minor child.
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Appeal from'Monroe Circuit Court; Thos. C. Trimble, Judge; statement by' the court. J. B. Henley, guardian for J. B. Henley, Jr., sued the Mutual Life Insurance Company of New York to recover $3,000.00, the amount of an insurance policy issued by it to Addie L. Henley, payable to J. D. .Henley, Jr., her minor child. The policy was issued on the 8th day of March, 1909, and Addie L. Henley died on the 17th day of March, 1915. The premium was $46 98-100 payable in advance on December'8th of each year. The husband of the insured paid the premium every year and always remitted to the Company the…
1Opinion of the CourtHart, J.
(after stating the facts). The principle of law governing cases of this character is stated in the case of the Union Central Life Insurance Co. v. Caldwell, 68 Ark. 505, as follows:
“The proof showed that the assured had the right to have the dividends applied otherwise. In the absence of any stipulation in the policy, and of any directions otherwise by the assured as to the application of dividends which have been declared, it is the duty of a mutual company to apply such dividends to the payment of interest on loans made on the policy, .when by so doing a forfeiture of all rights and…
2Cases cited1 opinion
- Union Central Life Insurance v. CaldwellSupreme Court of Arkansas · 1900
3Cited by17 opinions
- Pfeiffer v. Missouri State Life InsuranceSupreme Court of Arkansas · 1927
- Simmons v. Cambridge Savings BankMassachusetts Supreme Judicial Court · 1963
- Great Southern Life Ins. Co. v. JonesCourt of Appeals for the Eighth Circuit · 1929
- Reliance Life Insurance v. HardySupreme Court of Arkansas · 1920
- Lamar v. Ætna Life Ins.Court of Appeals for the Tenth Circuit · 1936
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