133 Iowa 177 | Iowa | 1907
The sole question made by the demurrer is that plaintiff’s action is not barred by the statute of limitations. It appears from the allegations of the petition and of the answer that plaintiff became a policy holder in the defendant company on the 10th day of August, 1891-, and that he paid three annual premiums, to wit, on the 22d days of July, in the years 1891, 1892, and 1893. The policy was for $1,000, and defendant agreed to pay that amount to plaintiff’s executors, administrators, or assigns upon satisfactory proof of death, etc. Attached to plaintiff’s application for insurance was the following under the head of the list of privileges: “II. Non-Forfeiture. If premiums upon the policy for not less than three complete years of assurance shall have been duly received by the society, and default shall be made in payment of subsequent premiums, the policy may be surrendered for a non-participating paid-
The policy had not been returned to defendant duly receipted at the time this action was commenced, nor was any demand of any kind made upon defendant until about March 28, 1905, when plaintiff requested of defendant that it issue him a paid-up policy of insurance for the sum of $150. This action was commenced September 19, 1905. Under our statute actions upon written contracts must be commenced within 10 years after their causes accrue. Code, section 3447, subdivision 7. The stipulation for the paid-up policy was a privilege conditioned upon return of the policy duly receipted within six months after the date upon -which the last premium in default fell due, and, if this was not done, the policy was to cease and determine and “ all premiums paid thereon should be forfeited to the society.” The condition above named was to be performed by plaintiff before any liability would attach to issue a paid-up policy. Plaintiff did not pay the premium matur-' ing July 22, 1894, nor did he make any-demand upon defendant for a paid-up policy until March 28, 1905; giving him six months from July 22, 1904, within’which to return his policy duly receipted. He did nothing until more than ten years from the expiration of this period; so that, if we