McElroy v. John Hancock Mutual Life Insurance

Citations

• 88 Md. 137
• 41 A. 112
• 1898 Md. LEXIS 190

Syllabus

<p>Life Insurance— Right of Assignee of Policy Holding Part of Equitable Ownership— What passes to Trustee in Insolvency — lime of Furnishing Proof of Death— Waiver of Defects in Proof of Death — Appeal—New Trial.</p> <p>An assignee of a policy of life insurance who has the whole legal title and only a part of the equitable interest therein is entitled to maintain an action on the policy in his own name, and the defendant cannot set up as a defence that the plaintiff does not own the entire beneficial interest.</p> <p>The trustee in insolvency of the assignee of a life insurance policy who held the legal title and a part of the equitable interest is entitled to maintain an action on the policy.</p> <p>Property in which the insolvent held the legal title and some of the beneficial interest while other parties also have equitable interests therein, passes to the trustee in insolvency.</p> <p>A policy of life insurance provided that “ notice of the claim and proof of death shall be submitted to the company within ninety days after the decease.” Held, that this stipulation does not defeat the claim of the plaintiff suing on the policy when he did not know of its existence or of the death of the insured until more than a year after such death, and promptly notified the company after acquiring knowledge of his rights.</p> <p>Failure to furnish to a life insurance company proof of death within the time limited by the policy is waived when the company makes a proposal to settle,; or denies its liability absolutely, or asks for additional proof without making the objection that the proof, as given, was not furnished within due time.</p> <p>When a judgment is reversed for error in a certain ruling and the cause remanded for a hew trial, this Court may pass upon another question in the case and going to the root of the action which will necessarily arise upon the new trial.</p>