Life Ins. Co. of Virginia v. Sluss, 15806.
Citation | 105 Ind.App. 274,11 N.E.2d 500 |
Decision Date | 15 December 1937 |
Docket Number | No. 15806.,15806. |
Parties | LIFE INS. CO. OF VIRGINIA v. SLUSS. |
Court | Indiana Appellate Court |
OPINION TEXT STARTS HERE
Appeal from Superior Court, Marion County; Clarence E. Weir, Judge.
Action by Fred J. Pfisterer against the Life Insurance Company of Virginia, wherein, upon plaintiff's death, Ellis E. Sluss, administrator of the estate of Fred J. Pfisterer, deceased, was substituted as party plaintiff. From a judgment for plaintiff, defendant appeals.
Reversed, with directions.Rochford & Rochford and Julius C. Travis, all of Indianapolis, for appellant.
Ellis E. Sluss, of Indianapolis, for appellee.
The appellant issued a policy of life insurance, at semiannual premium of $15.46, to Louise Irma Pfisterer, who was born December 26, 1890, and who was, at the time of the issuance of this policy, on November 24, 1925, thirty-five years of age. The premiums were paid for five years, and on November 24, 1930, the policy lapsed on account of nonpayment of the premium then due. The insured died on March 1, 1934, and her brother, who was the beneficiary named in the policy, instituted this suit, and upon his death the administrator of his estate was substituted as party plaintiff and is the appellee here.
The complaint was in two paragraphs which were answered in general denial. The cause was tried by the court on an agreed statement of facts, and the finding was for the appellee and a judgment was rendered in his favor in the sum of $1,090. The appellant's motion for a new trial assigning as grounds therefor that the decision was not sustained by sufficient evidence and that it was contrary to law was overruled and that is the error assigned.
[1] The policy, among other things, contained the following: “If this policy shall lapse for the non payment of any premium after premiums have been paid for at least three full years of insurance and there is no indebtedness to the company on account of this policy, the company will grant one of the following options. * * *” The three statutory options were here set out. Since the policyholder did not elect, upon the lapse, to avail herself of any one of the options under the statute, the insured automatically became entitled to extended insurance which was one of the options given in the policy. Equitable Life Ins. Co. of Iowa v. Horner, et al. (1932) 97 Ind.App. 347, 182 N.E. 463.
The policy further provided as to the automatic extended insurance that “The Company, without any action on the part of the insured, will carry the face amount of this policy as non-participating extended insurance, from the date to which premiums have been paid for the term shown in the extended insurance column in the table of surrender values opposite the number of full years for which premiums have been paid: * * *
(Our italics.)
Immediately after the above provisions of the policy, on the same page, is the table referred to, which is as follows, towit:
+-----------------------------------------------------------------------------+ ¦At end ¦Cash or loan value per ¦Paid up policy per $1,000 ¦Extended ¦ ¦of ¦$1,000 insurance ¦insurance ¦Insurance ¦ +-------+----------------------------+--------------------------+-------------¦ ¦ ¦ ¦ ¦years¦months.¦ +-------+----------------------------+--------------------------+-----+-------¦ ¦3rd. ¦$49 ¦$150 ¦5 ¦8 ¦ ¦yr. ¦ ¦ ¦ ¦ ¦ +-------+----------------------------+--------------------------+-----+-------¦ ¦4th. ¦70 ¦200 ¦8 ¦2 ¦ ¦yr. ¦ ¦ ¦ ¦ ¦ +-------+----------------------------+--------------------------+-----+-------¦ ¦5th. ¦95 ¦250 ¦10 ¦10 ¦ ¦yr. ¦ ¦ ¦ ¦ ¦ +-----------------------------------------------------------------------------+
This table contained the values under the headings shown down to the twentieth year as by statute required, following which was this further clause: ...
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