Murphy v. Red

Citations

• 64 Miss. 614

Syllabus

<p>Life Insurance Policy. Assignment of for value. Assignee having no insurable interest in insured.</p> <p>The holder of a valid policy of insurance on his own life, payable to himself or his legal representatives, may assign the same for a valuable consideration, as he may any other chose in action, if there be nothing in the terms of the policy to prevent the assignment. And the assignee or purchaser of such policy, transferred according to its terms, is entitled to the proceeds' of the same when due, notwithstanding he may have no insurable interest in the life insured.</p>