(DOWNLOAD) "Prudential Ins. Co. v. Gilroy." by Fifth Circuit Circuit Court Of Appeals # Book PDF Kindle ePub Free

June 09, 2021

eBook details

Title: Prudential Ins. Co. v. Gilroy.
Author : Fifth Circuit Circuit Court Of Appeals
Release Date : January 05, 1946
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 54 KB

Description

The Prudential Insurance Company, on August 4, 1939, delivered to Murray G. Gilroy two $5,000 policies of insurance on his life, payable to his wife, Dorothea Gilroy. Premiums were payable monthly on the 4th day of each month. Beginning with September, 1939, and continuing through July, 1942, the monthly payments were $54.30; thereafter the monthly payments were $62.80. At the death of the insured on January 6, 1944, the insurance company refused payment on the ground that the policies had lapsed for nonpayment of the monthly premiums due on February 4, 1943, and that their nonforfeiture provisions which utilized their cash surrender values less certain outstanding loans extended the policies only until November 15, 1943. Mrs. Gilroy, as beneficiary, thereupon brought suit for $9,568.90 (the principal sum, $10,000, of both policies less the loan indebtedness), with legal interest and reasonable attorneys fees. From a judgment for the amount demanded, the insurance company appealed.