LIFE INSURANCE ACTS
COURT OF APPEAL RESERVES JUDGMENT (PBI3S A33OCIATIOJJ TKLEORAM.I WELLINGTON, July 21. The Court of Appeal reserved its decision .in the action brought by John Edward Wheeler and Aubrey Counsell Stephens, of Dunedin, against the Bank of Australasia, Alice Mary Ainge, and others. Plaintiffs seek a decision on the following questions regarding life insurance policies:—(l) Whether the protection afforded policy moneys against debts and legacies by Sections 6"5 and CS of the Life Insurance Act, 1908, as amended in 1925, applies in the case of moneys payable under policies mortgaged in this manner? (2) If such protection does exist, then in whose favour does it apply, and does it apply against debts owing by testator under mortgages? (3) With regard to the right of election arising under these sections, who is entitled to exercise the right and within what period must it be exercised?
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Press, Volume LXXI, Issue 21506, 22 June 1935, Page 27
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146LIFE INSURANCE ACTS Press, Volume LXXI, Issue 21506, 22 June 1935, Page 27
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