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Full-Text Articles in Insurance Law
Taxation -Income From Irrevocable Funded Insurance Trusts - Constitutionality Of Statute
Taxation -Income From Irrevocable Funded Insurance Trusts - Constitutionality Of Statute
Michigan Law Review
The settlor created irrevocable trusts to pay premiums on policies of insurance issued on his life in favor of irrevocably-named beneficiaries. Held, that sec. 219 (h), Rev. Acts 1924, 1926, making income from trusts taxable to the settlor, is constitutional. Burnet v. Wells, (U. S. 1933) 53 Sup. Ct. 7.61.1
Insurance - Death In Violation Of Law-Proximate Cause
Insurance - Death In Violation Of Law-Proximate Cause
Michigan Law Review
Decedent's life was insured by the defendant company, a clause in the by-laws of which, incorporated in the policy by reference, excepted liability where death occurred in consequence of a violation of law. Decedent and two companions had committed the crime of auto banditry, and police officers, with warrants for their arrest, surprised them in possession of the stolen car, killing the decedent who sat armed with a rifle in the rear seat as the car drove away. Held, the policy covered the death of the insured, including additional payment for accidental death. Ben Hur Life Association v. Cox …
Insurance - Civil Death Of Insured As Effecting Acceleration Of Endowment Policy
Insurance - Civil Death Of Insured As Effecting Acceleration Of Endowment Policy
Michigan Law Review
An endowment policy was made payable to insured if he should live to the policy anniversary date next preceding his sixtieth birthday, otherwise to his executors or administrators. Four years after the policy was taken out, insured was sentenced to life imprisonment for killing his wife. A statute provided that the estate of a person incarcerated for life "shall be administered upon and distributed, and his contracts and relations to persons and things are affected, in all respects, as if he were dead." In an action on the policy by the administrator of insured, held, that imprisonment of insured …