Laws Applicable:
FACTS:
- West Coast Life Insurance Company issued 2 policies of insurance on the life of Esperanza J. Villanueva:
- 2,000 php - maturing on April 1, 1943
- if living, on the 1st day of April 1943 - to insured
- upon death during the continuance of this policy - to the beneficiary Bartolome Villanueva, father of the insured, with right on the part of the insured to change the beneficiary
- 1940: Bartolome Villanueva died, Mariano J. Villanueva duly substituted as beneficiary, a brother of the insured
- 3,000 php - maturing on March 31, 1943
- Esperanza J. Villanueva survived the insurance period, for she died only on October 15, 1944, without, however, collecting the insurance proceeds.
- CFI: estate of the insured Esperanza is entitled to the insurance proceeds
ISSUE: W/N the estate of insured Esperanza should be entitled to the insurance proceeds since she outlived the insurance policy
HELD: YES. appealed order is, therefore, hereby affirmed
- To sustain the beneficiary's claim would be altogether eliminate from the policies the condition that the insurer "agrees to pay . . . to the insured hereunder, if living
- Upon the insured's death, within the period, the beneficiary will take, as against the personal representative or the assignee of the insured. Upon the other hand, if the insured survives the endowment period, the benefits are payable to him or to his assignee, notwithstanding a beneficiary is designated in the policy