Legal Cases

  • Legal Cases – Index
  • Andrea v. Metro. Life Ins. Co., No. 00-0911, 2000 WL 35361960, at *2 (D.N.J. Aug. 14, 2000).
  • The actual versus expected performance for some Universal Life policies led to class-action lawsuits that have caused a substantial amount of negative attention to be focused on cash-value life insurance in the illustration of projected values. 

-- Deanne Osgood

1999 - SOA - The Next Generation Universal Life, Society of Actuaries - 30p

  • Guardian
    • 2023 1114 - ThinkAdvisor - Model, Stylist Sue Advisors Over Cash-Value Life Advice, By Allison Bell - [link]
    • 2024 0301 - ThinkAdvisor - Buyers Should Have Read the Policies, By Allison Bell - [link]
  • 2020 0910 - Florida Fifth District C - 18-3342 Oral Argument - [VIDEO-YouTube-42:47]
    • Doctor Mcintosh (sp) vs Principal Life
      • Mcintosh - Suicide
    • Breach of Contract, Agent vs Company - Duties, Statute of Limitations, Reformation of Contract, Intention of Parties, 
    • Reduction of Death Benefits, Death, 
    • Intent of the Parties
    • 16 - 
    • Life Insurance Adjustment Application - 
    • 20 - Ambiguity
    • Increase  or Decrease Death Benefit
    • 2x - Updated Policy Data Page - didn't have Death Benefit on it.
    • 27 - 
    • 30 -
    • 31 - Any doesn't mean Any, "if Applicable" - Grammar - commas
    • Construction - Statutory vs Contract vs Legislative - "Cord Wrapping?" - Intention, Interpretation -- "if required"
    • 32 - If you can't figure it, then it is ambiguous
    •  - Grammatical Rules - Supreme Court Case-? - Antecedent - complete and fair reading of the documents - 
    • Figure out intent by looking at the language
    • 38 - Unambiguous vs Absolutely Clear
    •  
  • Words and Concepts
  • Tekell - Weldon D. Ferguson v. Security Life of Denver Insurance, 996 F. Supp. 597 (1998), March 2, 1998 · United States District Court for the Northern District of Texas · No. 3-97-CV-2106-BD
  • Adams v. Southern Farm Bureau Life Insurance Company
  • In RE: Municipal Derivatives Antitrust Litigations - MDL No. 1950  ---  [BonkNote]
    • Joint Second Amended Class Action Complaint - 104p
      • THIS DOCUMENT RELATES TO:
        • City of Oakland v. AIG Finan. Prods. Corp., et aI., 08 Civ. 6340 (VM);
        • County of Alameda v. AIG Finan. Prods. Corp., et al., 08 Civ. 7034 (VM);
        • City of Fresno v. AIG Finan. Prods. Corp., et al., 08 Civ. 7355 (VM);
        • Fresno County Financing Authority v. AIG Finan. Prods. Corp., et aI., 09 Civ. 1199 (VM)
      • (p25) - 75. The Municipal Derivatives industry has been variously described by market participants as opaque, intertwined and interconnected, all characteristics which facilitate the type of illegal collusion alleged herein.
        • The Municipal Derivatives market lacks transparency, and regulatory and private efforts to impose transparency have not been successful.
        • On July 26, 2007, the Chairman of the Securities and Exchange Commission delivered a white paper to Congress calling for improved oversight of the municipal securities market. <WishList>

  • 2018 08 - For the Defense - An Emerging Strategic Framework: As Universal Life Insurance Premiums Increase, So Does Class Action Litigation - [link]

  • casetext.com/case/voorhees-v-preferred-mut-ins-co
    • Generally, an insurance policy should be interpreted according to its plain and ordinary meaning. Longobardi v. Chubb Ins. Co., 121 N.J. 530, 537, 582 A.2d 1257 (1990).
    • ⇒  But because insurance policies are adhesion contracts, courts must assume a particularly vigilant role in ensuring their conformity to public policy and principles of fairness. Sparks v. St. Paul Ins. Co., 100 N.J. 325, 335, 495 A.2d 406 (1985).
    • When the meaning of a phrase is ambiguous, the ambiguity is resolved in favor of the insured, id. at 336, and in line with an insured's objectively-reasonable expectations. DiOrio v. New Jersey Mfrs. Ins. Co., 79 N.J. 257 , 269, 398 A.2d 1274 (1979).
    • Moreover, if an insured's "reasonable expectations" contravene the plain meaning of a policy, even its plain meaning can be overcome. Werner Indus. v. First State Ins. Co., 112 N.J. 30 , 35-36, 548 A.2d 188 (1988).
    • Nonetheless, courts "`should not write for the insured a better policy of insurance than the one purchased.'" Longobardi, supra, 121 N.J. at 537, 582 A.2d 1257 (quoting Walker Rogge v. Chelsea Title Guar. Co., 116 N.J. 517, 529, 562 A.2d 208 (1989)).
  • 1977 - LC - Rempel v. Nationwide Life Insurance Company and Reid W. McGibbeny
    • Supreme Court of Pennsylvania
    • 471 Pa. 404 (1977), 370 A.2d 366
    • Opinion - [link-GoogleScholar]
      • Reliance, Agent as expert, 
  • 1978 - LC - Collister v. Nationwide Life Ins. Co., 479 Pa. 579, 593, 388 A.2d 1346, 1353 (1978). See footnote 33
    • Because of the way insurance policies are sold, courts interpreting those policies will and do excuse a policyholder's failure to read the policy.
    • Another corollary problem with interpreting insurance contracts is the knowledge of the parties to the contract.
  • courtswv.gov/supreme-court/docs/Spring2000/25539c.htm
  • 1980 0331 - LC - Phoenix Mut. Life Ins. Co. v. Insurance Dept.., Etc., 500 F. Supp. 2 (S.D.N.Y. 1980) - US District Court for the Southern District of New York
    • Shopping Guide
    • Adjusted Indexes
    • Virginia Knauer
    • Low-Cost
  • 1996 - LC - Barnett Bank of Marion Cty., N. A. v. Nelson, 517 U.S. 25 
  • 1998 - LC - Friedman v Manufacturer's Life
  • 1999 - LC - Spitz v Connecticut General
    • Dennis W. McCarthy
  • 1999 - LC - Greenberg v. Life Ins. Co. of Virginia - [GoogleScholar]
    • re: Single Premium Life Insurance Policy
    • 177 F. 3d 507 - Court of Appeals, 6th Circuit, 1999 - Google Scholar 21 years ago -  … Under this second theory, Greenberg and Rossmann contend that Life of Virginia's agent, using misleading policy illustrations, falsely represented to them that no further premium payments would be required for their policies beyond the single initial premium payment ...
  • 2001 - LC - Joseph COOPER, et al. v. BERKSHIRE LIFE INSURANCE COMPANY, et al. - No. 0154, Sept. Term, 2001. - Decided: November 14, 2002 - Court of Special Appeals of Maryland.
    • re: Vanishing Premium
  • 2006 - LC - Sullivan v Southland
  • 2008 - LC - AmerUs vs Smith - Supreme Court of Alabama Decision - 53p
  • 2009 - LC - Elisa Krall v. Life Insurance Company Of The Southwest - 8:09-cv-01043-JVS-RNB
  • 2010 - LC - Pike v New York Life, New York
  • 2015 - LC - West Chester University Foundation v. Metlife Insurance Company of Connecticut, 15-3627
  • smithphillips.com/practice-areas/class-actions-and-multi-district-litigation
  • 2017 - LC - Thomas C. Cerullo v Alan P. Heisser, Ralph W. Savoie, Guardian Life Insurance Company of America, and Savoie Financial Group
    • No. 16-ca-558
    • ON APPEAL FROM THE TWENTY-FOURTH JUDICIAL DISTRICT COURTPARISH OF JEFFERSON, STATE OF LOUISIANA NO. 747-460, DIVISION "L"
    • Cerullo = Lawyer
      • Thought he was buying annuity, actually bought Whole Life
    • law.justia.com/cases/louisiana/fifth-circuit-court-of-appeal/2017/16-ca-558.html
      • In May 2006, Mr. Cerullo prepared a letter to Guardian requesting the return of his premium payment on the grounds that the funding requirements for the whole life policy were not adequately explained to him. Guardian contends that it did not receive this letter.
  • 2018 - LC - Ciofoletti V. Securian Fin. Grp. ---  [BonkNote]
  • 2019 - LC - In re Prudential Financial, Inc. Securities Litigation
    •  2:19-cv-20839-SRC-CLW
    • Opinion - 35p
    • v Prudential
    • Hartford
  • 2020 - LC - Hong Li v Pacific Life
    • No. 30-2020-01153426-CU-BT-CXC 
    • filed September 2020 in Orange County Superior Court, California
    • IUL - PDX
    • Hong Li v Pacific Life - 30-2020-01153426-CU-BT-CXC  - Complaint - 53p
  • 2020 - LC - McGinnis v. Nationwide Life and Annuity Insurance Co.
    • 3:20-cv-03138
    • Texas Northern District Court
  • 2022 - Fine v Kansas City Life Insurance Company
    • Case 2:22-cv-02071
    • Document 1 Filed 03/29/22 - 101p
  • 2023 - LC - West v Wilco, fka Conseco
    • 1:20-cv-02961-RLM-MKK
    • Court: United States District Court, Southern District of Indiana
    • Document 1- Class Action Complaint for Damages, Demand for Jury Trial - 41p
    • 2023 0412 - Document 67 - Order - 20p
      • After losing her policy, West filed this lawsuit, a putative class action, in which she alleges her policy lapsed as part of Wilco's "shock lapse strategy."
      • As way of background, the RSA is an agreement between Wilco and approximately 46 state regulators that provided for a $10 million settlement pool for LifeTrend policyholders and certain changes to Wilco's NGE redetermination process. (Dkt. 112 at 27). The LifeTrend policies were insurance policies distinct from the CUL and CIUL2 blocks. (Dkt. 117 at 28-29).
  •  McHugh v. Protective Life Insurance Company - California
  • 12-56937 Johansen v. American General Life Insurance Co
  • 14-56523 Leo Gabrielian v. Lafayette Life Ins. Co.
  • 15-15854 William Burnett v. Conseco Life Insurance Company
  • 15-16740 Kamies Elhouty v. Lincoln Benefit Life Company
  • 15-55809 Joyce Walker v. Life Ins. Co. of the Southwest
  • 15-56371 Susan Salyers v. Metropolitan Life Ins. Co. 2
  • 19-55241 Joyce Walker v. Life Ins. Co. of the SouthWest
  • blumenthal-v-new-york-life/
    • 2009 - Dist. Court, WD Oklahoma
    • 2011 - Court of Appeals, 10th Circuit
  •  Johnston & Johnston v. Conseco
    • 2013 - Court of Appeals, 5th Circuit
  • maloof-v-john-hancock/
    • 2010 - Alabama Supreme Court 
  • Thao v Midland
    • 2013- Court of Appeals , 7th Circuit
  • vogt-v-state-farm/
    • 2017/2018 - Dist. Court, WD Missouri 
    • 2020 - Court of Appeals, 8th Circuit
  • walker-v-life-insurance-company-of-the-southwest/
    • 2013 - Dist. Court, CD California
    • 2017 - Court of Appeals, 9th Circuit
    • 2020 - Joyce Walker v. Life Ins. Co. of the SouthWest -19-55241
  • - LC - Curhan v Sun Life
    • Correspondence from Company
  • Moore v. Paine Webber, Inc., 306 F.3d 1247, 1252 (2d Cir. 2002).
  • Moore v. PaineWebber, Inc., 189 F.3d 165 (2d Cir.1999),
  • district court's prior opinions
    • Moore v. Painewebber, Inc., 1250*1250 Nos. 96 Civ. 6820(JFK), 97 Civ. 4747(JFK), 1998 WL 661486, (S.D.N.Y. Sept. 24, 1998); Moore v. Painewebber, Inc., Nos. 96 Civ. 6820(JFK), 97 Civ. 4757(JFK), 2001 WL 228120 (S.D.N.Y. Mar. 7, 2001)
  • 1985 - LC - Sparks v St. Paul
    • Accordingly, on remand the trial court should not be precluded from considering evidence tending to prove that the terms of this policy were specifically understood and bargained for by Guarriello and that, although a policy with adequate retroactive coverage was available to him from St. Paul, he specifically elected to purchase this policy with no retroactive coverage in the first year.
    • law.justia.com/cases/new-jersey/supreme-court/1985/100-n-j-325-0.html
  • Because insurance contracts are contracts of adhesion, the terms of which are not customarily bargained for, courts have a special responsibility to prevent the marketing of policies that provide unrealistic and inadequate coverage. (re: lawyer negligence, malpractice policy)

1985 - LC - Sparks v. St. Paul Ins. Co. - OPINION - 100 N.J. 325 (1985) 495 A.2d 406, JOHN R. SPARKS, III, AND CAROLYN SPARKS, HIS WIFE, PLAINTIFFS-RESPONDENTS, v. ST. PAUL INSURANCE CO., A CORPORATION DOING BUSINESS IN NEW JERSEY, DEFENDANT-APPELLANT., The Supreme Court of New Jersey., Argued March 5, 1985. Decided July 25, 1985. - [link-justia]

  • 5th Circuit
    • 13-30010 - Johnston & Johnston v. Conseco - 5th District Court of Appeals
  • 7th Circuit Court of Appeals
    • 2013 - Thao v Midland (sp.13-1272.13-1272_11_12_2013)
  • 8th Circuit Court of Appeal
    • 17-1841 Lincoln vs Wilson
    • 18-3419 Michael Vogt v. State Farm Life Insurance Comp
  • 9th Circuit
    • 12-56937 Johansen v. American General Life Insurance Co
    • 14-56523 Leo Gabrielian v. Lafayette Life Ins. Co.
    • 15-15854 William Burnett v. Conseco Life Insurance Company
    • 15-16740 Kamies Elhouty v. Lincoln Benefit Life Company
    • 15-55809 Joyce Walker v. Life Ins. Co. of the Southwest
    • 15-56371 Susan Salyers v. Metropolitan Life Ins. Co. 
    • 19-55241 Joyce Walker v. Life Ins. Co. of the SouthWest
 

2011 - LC - "Universal Life Insurance - [PDF-Doc 1-64p] -YALE M. FISHMAN 1998 INSURANCE TRUST, Individually and On Behalf of All Others Similarly Situated,
Plaintiff,
AGL LIFE ASSURANCE COMPANY,
RYE SELECT BROAD MARKET
INSURANCE FUND LP, RYE SELECT
BROAD MARKET PRIME FUND LP,
RYE SELECT BROAD MARKET XL
FUND LP, TREMONT CAPITAL
MANAGEMENT, INC., TREMONT
GROUP HOLDINGS, INC., TREMONT
PARTNERS, INC., TREMONT
OPPORTUNITY FUND III, L.P., RYE
INVESTMENT MANAGEMENT,
MASSMUTUAL HOLDING LLC,
MASSACHUSETTS MUTUAL LIFE
INSURANCE CO., OPPENHEIMER
ACQUISITION CORP., ERNST &
YOUNG, LLP, KPMG LLP, ROBERT
SCHULMAN and SANDRA L.
MANZKE,

The investment or savings component of the life insurance contract was hidden. In the late 1970s, a new form of cash value life insurance, known as "universal life," was introduced to the market. In a universal life policy, all of the economic components of the policy are revealed. The introduction of universal life had a significant impact on the life insurance industry by providing a product that could be marketed with an emphasis on investment goals and returns. With the introduction of universal life, the flexibility of life insurance as an investment vehicle was enhanced and the variations in the kinds of policies multiplied.

136 F.Supp.2d 762 (2001)

AMERICAN ELECTRIC POWER, INC., et. al., Plaintiffs,
v.
UNITED STATES of America, et al., Defendants.
American Electric Power, Inc., et al., Plaintiffs,
v.
United States of America, et al., Defendants.

Nos. C2-99-724, C2-98-304.

United States District Court, S.D. Ohio, Eastern Division.

February 20, 2001.

310 F.2d 262 (1962)

EQUITABLE LIFE & CASUALTY INSURANCE CO., Appellant,
v.
Virgil N. LEE, Appellee.
EQUITABLE LIFE & CASUALTY INSURANCE CO., Appellant,
v.
Margaret L. PAGETT, Appellee.

Nos. 17031, 17038.

United States Court of Appeals Ninth Circuit.

November 14, 1962.
https://scholar.google.com/scholar_case?case=15805648740485017255&q=%22life+insurance%22+%22suitability%22+%22statute+of+limitations%22&hl=en&as_sdt=6,50