McCullough v. Smith, 293 U.S. 228 (1934)

Status: /us/293/228/case.html

Docket Number: 72

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U.S. Supreme Court MCCULLOUGH v. SMITH, 293 U.S. 228 (1934)

[Page 293 U.S. 228, 232]

during their lives should be treated as parts of the estate of the insured. See Reivich v. United States (C.C.A.) 25 F.(2d) 670, 672; United States v. Woolen (C.C.A.) 25 F.(2d) 673, 676.

Reversed. Footnotes

[Footnote *] 'If no person within the permitted class be designated as beneficiary for yearly renewable term insurance by the insured either in his lifetime or by his last will and testament or if the designated beneficiary does not survive the insured or survives the insured and dies prior to receiving all of the two hundred and forty installments or all such as are payable and applicable, there shall be paid to the estate of the insured the present value of the monthly installments thereafter payable, said value to be computed as of date of last payment made under any existing award.' 43 Stat. 1310 (38 USCA 514).