Truly v. Mutual Life Ins.

Citations

• 108 Miss. 453
• 66 So. 970

Syllabus

<p>1. Insurance. Insurance agents. Authority of. Life policies. Construction. Representations. Actions. Pleadings. Decree.</p> <p>The soliciting agent of a life insurance company has no authority to vary the terms of a policy, nor to bind the company by representations as to what the policy will contain.</p> <p>2. Insurance. Life policies. Construction.</p> <p>Where complainant did not rely upon representations made by a soliciting agent as to the terms of a life policy, such representations did not vary the policy.</p> <p>3. Insurance. ' Life polices. Representations.</p> <p>Where a life policy which gave the insured several options at the end of twenty years, provided that, after payment of three premiums, the insurer would issue a paid-up policy for the amount required bv the laws of New York, wherein the insurer was domiciled, a statement by the general agent of the insurer, purporting to illustrate the options, which informed the insured that in view of past experience; the paid-up policy should, at the end of twenty years, amount to over five thousand dollars, did not vary the terms of the policy, and absolutely entitle the insured to a paid-up policy for that amount, where the amount was to be computed upon the reserve and surplus earned by the company.</p> <p>4. Insurance. Life policies. Actions. Pleading. Decree.</p> <p>Where in a suit against a life insurance company, the bill of complaint, by insured, asserted the right to a paid-up policy of five thousand, four hundred ninety dollars, and repudiated the insurer’s offer to issue a paid-up policy for about four thousand dollars, it was error for the court, where the only paid-up policy to which insured was entitled, was dependent upon the reserve on the policy, including dividends and surplus, to decree that the insurer should issue a paid-up policy for the amount offered.</p>