INSURANCE-BENEFICIARIES-RIGHT TO CHANGE BENEFICIARY WHERE BENEFICIARY HAS PAID ALL THE PREMIUMS

Insured's mother, who was the original beneficiary of a life policy, paid all the premiums before and subsequent to the time when insured's wife was substituted as beneficiary. The mother was interpleaded in the wife's suit on the policy. Held, in the absence of a collateral agreement creating a4ditional rights in the mother, the payments were gratuitous and created no vested interest in the mother in the proceeds of the policy, where the right to change the beneficiary was reserved; and that the wife was entitled to the proceeds on the insured's death. McCloud v. Aetna Life Ins.

Co., (Minn. 1946) 21 N.W. (2d) 476.