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NAT'L COMMERCIAL BANK & TRUST CO. OF ALBANY v. PENN MUT. LIFE INS. CO. OF PHILADELPHIA

1 A.D.2d 744 (1955)

National Commercial Bank and Trust Company of Albany, as Executor of Richard W. Simmons, Deceased, Appellant, v. Penn Mutual Life Insurance Company of Philadelphia, Respondent

Appellate Division of the Supreme Court of the State of New York, Third Department.

December 23, 1955

In 1934, defendant issued a policy of insurance to one Simmons, the plaintiff's testate. The policy provided for monthly income payments of $76.70 to Simmons beginning on November 28, 1950, and terminating at his death or, in the alternative, for the payment of $11,817.10 in one sum. It further provided for continuance of the monthly payments to Simmons' executors should he die after November 28, 1950, and before the sum of the monthly payments equalled $11,817.10, which...

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