Franklin Life Insurance v. American National Bank
Supreme Court of Arkansas
Appeal from Sebastian Circuit Court, Fort Smith District. There was a forfeiture of the policy for failure to pay the premiums. 93 U. S. 24; 23 S. E. 223; 19 Ill. App. 327; 41 Mo.
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Appeal from Sebastian Circuit Court, Fort Smith District. There was a forfeiture of the policy for failure to pay the premiums. 93 U. S. 24; 23 S. E. 223; 19 Ill. App. 327; 41 Mo. App. 106. The insured is entitled to notice of the forfeiture, and not the beneficiary. 56 Pac. 116; 42 N. Y. Sup. 646; 28 N. J. L. 92. When a policy is assigned as collateral, the assured must pay the premium. 2 May, Ins. § 399a, 76 Ga. 575; 2 May, Ins. § § 378a, 382; 72 Mass. 169. The insured made a gross misrepresentation as to his habits upon the question of drink. 71 S. W. 376; 122 Mo. 50; 26 S. W. 680146 Mo.…
1Opinion of the CourtBattle, J.
The Merchants’ Life Association of Ae United States was a mutual insurance company, organized on ttie assessment plan, under the laws of the State of Missouri. On or about the 19th of July, 1897, W. M. Feagle made written application to the Association for a policy of insurance on his life. Attached to this application was an agreement, in which, among other things, it was stipulated and agreed by Feagle as follows:
“I hereby agree, for myself and all parties who may have an interest hereunder, that all the foregoing statements and answers made by me are material, and I warrant them, together…
2Cases cited5 opinions
- Grant v. Alabama Gold Life InsuranceSupreme Court of Georgia · 1886
- Forse v. Supreme Lodge Knights of HonorMissouri Court of Appeals · 1890
- Williams v. St. Louis Life InsuranceMissouri Court of Appeals · 1902
- Survick v. Valley Mut. Life Ass'nSupreme Court of Virginia · 1895
- Weakly v. Northwestern Benevolent & Mutual Aid Ass'nAppellate Court of Illinois · 1886
3Cited by3 opinions
- National Annuity Ass'n v. McCallSupreme Court of Arkansas · 1912
- Massachusetts Mutual Life Insurance Company v. Pinellas Central Bank & Trust CompanyDistrict Court of Appeal of Florida · 1965
- Sorenson v. National Life InsuranceWisconsin Supreme Court · 1972