Snyder v. Home Life Insurance Co. of America

Opinion by

Mr. Justice Linn,

Defendant appeals from judgment on a directed verdict for use-plaintiffs in an action to recover the surrender value of a policy of life insurance. The policy in the sum of $5,000.00 was issued to and on the life of Elwood S. Snyder in 1909; the beneficiary named was his wife, Flora H. Snyder, and the right to change the beneficiary was reserved. Snyder became indebted to the Lancaster Trust Company in the sum of $22,450.00 for which he made his demand collateral note. Among the collateral delivered was this $5,000.00 policy. He, as the insured and his wife as the…