City of New York Municipal Court October 26, 1934 (Beigel v. Windschauer)

Adlerman, J.

The policy, by its terms, is payable in the event of death to the insured’s executors, administrators or assigns. The cash surrender value of the policy is an indebtedness to the insured which is property belonging to him. Section 55-a of the Insurance Law does not exempt it from levy under an execution.