Filley v. Illinois Life Insurance

Citations

• 93 Kan. 193
• 144 P. 257
• 1914 Kan. LEXIS 408

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Insurance — Vested Interest of Beneficiary Named in Policy. The rights of a beneficiary in an ordinary life insurance policy become vested upon the issuance of the policy, and can thereafter, during the life of the beneficiary, be defeated only as provided by the terms of the policy.</p> <p>2. Same — Kansas Mutual Life Association — “Old Line” Insurance Company. The Kansas Mutual Life Association was not strictly a mutual association nor a fraternal benefit association, but was practically an old-line life insurance company, although it collected money to meet its obligations by so-called annual dues instead of by premiums.</p> <p>„ SYLLABUS BY THE COURT.</p> <p>• 1 Life Insurance — When Interest in Policy Becomes Vested in Beneficiary Named in Policy. Whether a policy of life insurance or a benefit policy issued to one for the benefit of another vests a present interest in the beneficiary depends not upon the name or nature of the company but on the terms of the policy, the existing statutes, and the by-laws, if any, by which such company and its policyholders are bound; and when such policy is issued to a member for the benefit of a proper beneficiary, then in the absence of some statute, by-law or contract to the contrary, the beneficiary thereby becomes vested with an interest which can not be destroyed at the will of the insured.</p> <p>2. Life Insurance — Payable to Wife — Divorce—Remarriage of Assured — Policy Payable to Divorced Wife. Such a policy issued to a member of a mutual company providing that the death benefit should be paid to such member’s wife, naming her, entitled her to such benefit although some years before the death of the insured she was divorced from him, it being shown that after such divorce and after his remarriage the insured kept the annual dues and demands paid and made no attempt to change the beneficiary.</p> <p>3. Same — Provision for Surrendering Policy — Does Not Impair Vested Interest of Bene