Strong v. Hercules Life Ins. Co.

Anna B. Strong, as beneficiary, brought suit against defendant on a $2,000 life insurance policy, issued on March 4, 1921, by the National Life Insurance Company of the United States of America to her husband, who died May 13, 1935. The policy required payment of premiums of $25.58 semi-annually. On October 9, 1930, the insured borrowed on the policy the sum of $292.62, which constituted the maximum loan value and full cash surrender value of the policy. The premium due September 4, 1930, was paid out of the proceeds of the loan. The next premium became due on March 4, 1931, and notice was…