O'Connell v. Eastern Savings Bank

OPINION OF THE COURT

Jones, J.

Inasmuch as the statute vests exclusive authority to approve the issuance of savings bank life insurance policies in the Savings Bank Life Insurance Fund, a defense to payment under such a policy based on a material misrepresentation as to the applicant’s health made in the application is not vitiated by proof that an officer of the savings bank to which the application was addressed had knowledge of the true facts.

In this action on a savings bank life insurance policy the named beneficiary seeks to recover the benefits of that policy due on the death of the…