Walker vs. LSW - Snippets

  • (p170) Mr. Brosnahan said: Well, the fees can cause policies to lapse. Is that a secret?
    • I mean, fees cost something. That's the point of fees. If someone puts money into their policy, there will be fees, as they know, coming out of those policies.
    • If you don't put enough premiums into your policy, over time the fees will keep decreasing the value of the policy. That's what fees do.
    • That's not a defect in the policy. That's how policies work. 
  • (p171) - The fact that we charge people fees that we have disclosed and that fees reduce the value of your policy, and if your policy keeps reducing in value, it will lapse, is not a fraud.
    • That's common sense. That's how life insurance works.

2014 0425 - LC - Walker vs Life Insurance Company of the Southwest, LSW - DOC 813 - Trial Transcript - 224p

  • (p4-5) - Moore, Monte Carlo
    • This ruling should be extended to Mr. Sabatini as we argued in our opening brief at pages 23 to 24.
    • Mr. Sabatini opined in his report that there is a serious cause for skepticism that a consumer would be able to understand the Monte Carlo simulation, virtually the same opinion given by Ms. Moore.

  • 2014 0327 - DOC 781 - Walker v LSW - TRANSCRIPT for proceedings - 85p

  • THE COURT: But they clearly describe those types of charges as non-guaranteed.
  • MARTENS: Well, the question isn't whether they're non-guaranteed.
    • The question is whether or not they meet the statutory definition of non-guaranteed elements.
    • In other words, non-guaranteed elements is a term of art in the statute.
      • So the question, is it a premium, benefit, value, credit, or charge?  (p30)

2017 1211 - LC - Walker v Life Insurance Company of the Southwest - DOC 876 - Transcript for proceedings - 61p