Walters v. Jefferson Standard Life Ins. Co.
| Citation | 20 S.W.2d 1038,159 Tenn. 541 |
| Parties | WALTERS v. JEFFERSON STANDARD LIFE INS. CO. |
| Decision Date | 19 October 1929 |
| Court | Supreme Court of Tennessee |
Appeal from Chancery Court, Union County; Ben Robertson, Chancellor.
Action by Frank Walters against the Jefferson Standard Life Insurance Company. Decree dismissing the bill was reversed by the Court of Appeals, and defendant appeals. Decree of Court of Appeals reversed, and that of chancellor affirmed.
This is a suit on a 20-pay participating life insurance policy issued by the defendant on the life of complainant on October 23 1922, for the sum of $2,500.
On account of an error in the statement of the age of the insured, the amount of the policy was reduced to $2,433. The annual premium of $110 was paid each year up to and including the one due in October, 1926. The policy provided for the payment of a monthly indemnity of 1 per cent. of the face value of the policy in case the insured became totally permanently disabled, and in that event all future premiums were waived. In May, 1926, complainant became totally disabled, but there is no evidence that he was permanently disabled at that time or since.
In May 1927, complainant filed proof with the defendant of his total disability. On August 5, 1927 defendant began and has since paid complainant each month the sum of $24.33.
The bill in this cause was filed to recover the monthly indemnity from August, 1926, to August, 1927, and to recover the annual premium paid in October, 1926.
The theory of complainant is that he was entitled to monthly indemnity beginning three months subsequent to the date he became totally disabled, and that he was not liable for premiums after he became totally disabled, and that he paid the premium in October, 1926. through mistake.
The essential part of the indemnity provision of the policy is in this language:
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