Court Opinion

ID: 9825912
Source: CourtListenerOpinion
Date Created: 2023-09-01 14:19:39.649447+00
Date Added: 2024-06-11T07:41:29.098374
License: Public Domain

Smith, J., (on rehearing). We are asked to modify the judgment in this case to the extent of allowing only the present value of the installments to be paid under the policy of insurance, rather than the total amount thereof, as was done under the original opinion. This request is made upon the authority of the case of Metropolitan Life Ins. Co. v. Harper, ante p. 170, where it was held that the present value — and not the total value— of the installments should be paid. In that case, however, the insured, who had become disabled, was alive, and, under his policy, was entitled to -benefits to be paid weekly for a given period. But in the brief which raises the question here stated, it is conceded that: “If Ward had died while his policy was in force, he would have been entitled to $1,800 (the amount recovered).” This admission is based upon the provision of-the policy of insurance to that effect reading as follows: “In the event of the death of the insured during the period of total permanent disability, any installments remaining unpaid shall be payable to the designated beneficiary.” The original opinion affirmed the finding that the insured did die while the policy was in effect, and there is no occasion, therefore, to modify the original opinion, and the motion for rehearing is therefore overruled.