Beard v. North State Life Ins. Co.
Decision Date | 15 March 1916 |
Docket Number | 9335. |
Parties | BEARD v. NORTH STATE LIFE INS. CO. |
Court | South Carolina Supreme Court |
Appeal from Common Pleas Circuit Court of Richland County; John S Wilson, Judge.
Action by Alice S. Beard against the North State Life Insurance Company. From a judgment for plaintiff, defendant appeals. Affirmed.
Weston & Aycock, of Columbia, for appellant.
D. W Robinson, of Columbia, for respondent.
Mr. Horace Beard was an agent for the appellant life insurance company, and took out a policy on his own life dated May 31, 1912. Mr. Beard was absent from home working for the company in August, when an installment was due, and it was not paid at that time. In December, 1912, the policy was reinstated by the company upon a certificate of health and the payment of back dues. The original policy was lost and a "duplicate" policy was issued in December, 1912. On the 19th of June, 1914, Mr. Beard died. The case states:
"There being no dispute that the premium on the said policy was fully paid at the time of Mr. Beard's death."
The company refused payment and this action was brought on the policy. The company answered, setting up fraud in the application for the policy and in the certificate of health upon which the policy was reinstated.
The appellant claims that it had at least two years from the date of the policy in which to set up fraud, and that the policy must be considered as bearing date from its reinstatement in December, 1912, and not from the date of the original policy in May, 1912. The company offered to prove the fraud. Under plaintiff's objection, that the time to prove fraud had expired, the proof was rejected.
A verdict was ordered for the plaintiff, and from the judgment on this verdict, the company appeals. The first exception questions this ruling.
I. Our statute is as follows:
It will be observed our statute said nothing about the date or age of the policy. The language refers solely to the receipt of the premium on life insurance. Companies that shall receive the premium on any policy for the space of two years shall be deemed and taken to have waived any right they may have had to dispute the truth, etc. The case states that the company had received the premium for the two years. Under the express terms of the statute, the...
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