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FIRST NAT. BANK OF MIDLAND v. PROTECTIVE LIFE INS. CO.

No. 74-1944.

511 F.2d 731 (1975)

FIRST NATIONAL BANK OF MIDLAND, Trustee, et al., Plaintiffs-Appellants, v. PROTECTIVE LIFE INSURANCE COMPANY, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

April 21, 1975.

Attorney(s) appearing for the Case

Stanley P. Wilson, Michael S. Baskerville, Abilene, Tex., Guilford L. Jones, Big Spring, Tex., for plaintiffs-appellants.

Harrell Feldt, W. B. Browder, Jr., Midland, Tex., for defendant-appellee.

Before DYER, MORGAN and GEE, Circuit Judges.

DYER, Circuit Judge:

This appeal involves the construction of a life insurance policy to determine whether the policy's conversion option may be elected, subsequent to the lapse of the policy, while coverage continues as extended term insurance under the automatic non-forfeiture provision of the policy. The district court ruled that it could not. We agree and affirm.

Robinson, the deceased, purchased a $100,000 life insurance policy in May, 1965, and subsequently...

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