Presiding Justice McNAMARA delivered the opinion of the court:
On March 30, 1983, the decedent, John W. Vick, submitted an application for life insurance to plaintiff, Time Insurance Company ("Time"). Time accepted the application and issued an annually renewable term life insurance policy. The policy, dated April 1, 1983, provided for a death benefit of $100,000.
Although the decedent initially elected to pay premiums on a monthly basis, as indicated by his...
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