195 S.E. 332 | S.C. | 1938
February 15, 1938. The opinion of the Court was delivered by This is an action on an insurance policy issued by the defendant company on the life of one Dr. John Pressly. As questions only of law were involved, there being no dispute as to the facts, the case was tried before Judge Johnson without a jury. The issues had to do with the interpretation of certain provisions of the policy called "nonforfeiture privileges," and made, as argued here, substantially the following questions: (1) Does the reduction provided for by the *220 policy, where there is an outstanding loan, apply to the extended term of the policy or to the amount? (2) If to the amount, is such provision void under Section 1921 of the Code of 1932 and as against public policy?
At the hearing below, the contention of the plaintiff was that the provision in question "referred to time as applied to extended insurance." Judge Johnson, however, held contrary to that view, and the respondent now asks this Court to say that he erred in so holding, and that the judgment of the Circuit Court be sustained upon the additional ground stated in respondent's contention. The second question was answered in the affirmative, and the defendant by its appeal challenges the correctness of such answer.
We think the Circuit Judge, under the decisions cited by him, correctly disposed of the first question. As to the second, his conclusions thereabout are sound and are supported by the great weight of authority. See Ringstad v. MetropolitanLife Insurance Company,
Judge Johnson's order, which we approve and adopt, will be reported.
The judgment of the Circuit Court is affirmed. *221
MESSRS. JUSTICES BONHAM, BAKER and FISHBURNE concur.
MR. JUSTICE CARTER did not participate on account of illness.