Archive for January 2022
Agent Training – Walker vs. LSW
Agent Training – Walker v LSW (p28) – <Not in front of Jury>, also p49 MR. SHAPIRO (Defense Attorney): This is a diffuse atomistic sales force. We don’t require a lot. — There is very good reasons for that. It’s not a unique business model. Perhaps other businesses run other ways, but beyond essentially telling folks…
Read MoreFraudulent Concealment / Intent to Deceive – Walker vs. LSW
Fraudulent Concealment / Intent to Deceive – Walker v LSW (p184-187) – Jury Instructions THE COURT: There are two things I concluded as reflected in the instruction on page 24, which is the element of fraudulent concealment. I read the Gagne case. As I indicate, element number four as I’ve numbered them here comes directly…
Read MoreTarget Premium – Walker vs. LSW
Target Premium – Walker v LSW (p41-42) – MacGowan Q. And would you please take a look at Mr. Howlett’ s illustration which is in the white binder. It’s Exhibit 30 on page 10. A. Yes. Q. Now, in the lower right-hand corner underneath where it says page 10 of 21, do you see there’s…
Read MoreCosts and Illustrations – Walker vs. LSW
Costs and Illustrations – Walker v LSW (p78-79) – Matthew DeSantos – LSW’s Senior Vice-President of Distribution and Business Development (himself a former insurance agent) – DOC 792 – p27 Q Do the illustrations even without optional page that itemizes the expenses, does the standard illustration reflect in some way the costs of a policy?…
Read MoreCommissions – Walker vs. LSW
Commissions / Compensation – Walker v LSW Matthew DeSantos – LSW’s Senior Vice-President of Distribution and Business Development (himself a former insurance agent) – DOC 792 p27> (p60) Q Now, I assume that the agents who sell your products are receiving some type of compensation; is that fair? A Yes. Q And what’s the method…
Read MoreDeath Benefit Need and Life Insurance – Walker vs. LSW
Death Benefit Need and Life Insurance – Walker v LSW (p210) – Joyce Walker – Policyowner Q Prior to buying your LSW policy, had you ever purchased life insurance? A No, sir. Q And why not? A I don’t have any children, so I had no need for a death benefit. 2014 0416 – DOC…
Read MoreConsumer Understanding – Walker vs. LSW
Consumer Understanding – Walker v LSW (p4-5) – Moore, Monte Carlo In regard to consumer understanding, the Court correctly found that there was no foundation because, quote, “The concept of policy performance based on hypothetical returns is not so complex that consumers could not understand it.” This ruling should be extended to Mr. Sabatini as…
Read MoreInformed Consumer – Walker vs. LSW
Informed Consumer – Walker v LSW Donna Morgan – chief compliance officer for the Life Company Life Insurance Company of the Southwest, and National Life Insurance Company. Q: If you were considering purchasing an equity indexed universal life policy or investing in a mutual fund, would you want to know the costs and expenses of…
Read MoreStatute of Limitations – Walker vs. LSW
Statute of Limitations – Walker v LSW (p96) – Spooner A After reviewing it many times, we decided to surrender the policies. Q So you sent surrender notices in in September of 2008 to LSW? A Yes, that’s correct. Q And your husband did also? A Yes. We both sent in a surrender. Q What…
Read MoreReason for Purchase – Walker vs. LSW
Reason for Purchase – Walker v LSW (p88) – Spooner Q And what did you think about the tax-free income potential of this policy? A Well, that was the primary reason why we purchased the policy, to have that tax-free income. 2014 0415 – DOC 808 – Trial Transcript – Walker v LSW – 229p
Read More