Masonic Mut. Life Ass'n v. Paisley

Citations

• 111 F. 32
• 1901 U.S. App. LEXIS 4944

Syllabus

<p>Life Insurance—Eights of Creditors—Insolvency of Insured.</p> <p>Tbe fact tbat a married man was insolvent at tbe time be effected insurance on bis life in favor of bis wife and children, in a mutual association wbicb was authorized only to issue certificates in favor of tbe family or heirs of its deceased members, and that be remained insolvent until bis death, where tbe amount paid in premiums was moderate, and there was no actual fraud, does not entitle bis creditors, under tbe principles of the common law, to claim the proceeds of his certificate, or any part thereof, as against the widow and children; and such case also comes within Act Pa. April 15, 1868 (P. L. 103; Purd. Dig. p. 1048), which provides that all policies of life insurance taken out for the benefit of, or bona fide assigned to, the wife or children of the insured, or any dependent relative, shall be vested in such wife or children, or other relative, free and clear from the claims of his creditors.</p>