Jennings

*10 Opinion

Plaintiff Jean M. Jennings filed an action to recover the proceeds of a life insurance policy on the life of James L. Jennings, Jr. The trial court found that the surrender of the policy terminated coverage as of March 28, 1967, prior to the death of the insured. Plaintiff (appellant) appeals from a judgment for defendant (respondent) Prudential Insurance Company based on that finding.

Facts

The relevant facts were stipulated by the parties at trial as follows:

The relevant findings of the trial court were as follows:

Contentions

Appellant contends: (1) “When a cash surrender option under a whole life insurance policy is exercised prior to the date to which the premiums have been paid and without any return of unused premiums, the protection offered by the policy continues to the date to which thé premiums have been paid and any cancellation relates only to the period after said date”; and (2) “Although respondent fulfilled its obligation under sections 10160 and 10161 of the California Insurance Code in providing a cash surrender option under the life insurance policy, it did not fulfill its obligation under section 481 of the Insurance Code, thus confirming its…