Duty to Read - Walker v LSW
(p184)
- Did they reasonably rely on their illustrations when, as the judge said, they had a duty to read their policies and they didn't do it?
2014 0425 – DOC 813 – Trial Transcript – Day 12 – Walker v LSW – 224p
(p162) - Duty to Read
And the judge said it may not be reasonable for plaintiffs to rely on omissions in the illustrations because they're bound by the clear terms of the policy.
- Plaintiffs had the duty to read their policies insofar as materials in their policies were reasonably accessible to them.
- They received the policies; they signed for the policies; they had ten days to change their mind.
The information Dr. Brockett said was in the policies, they had a duty to read those policies.
2014 0425 – DOC 813 – Trial Transcript – Day 12 – Walker v LSW – 224p
(p192) - Duty to Read - Howlett
Q And when they gave you this policy, they also encouraged you to read the policy also on the same page; correct?
- If we go down to the bottom, the second paragraph above the signatures, do you see where it says: This contract is a legal contract between the contract owner and Life Insurance Company of the Southwest.
- And then in all caps it says: Read your policy carefully. Do you see that?
A Yes.
Q But you didn't do that; did you?
A No, I did not.
2014 0416 – DOC 809 – Trial Transcript – Walker v LSW – 236p
(p161)
But all of this is theoretical, too, because the plaintiffs never read their policies.
- I mean, they want to claim that they were misled when they didn't read things that were disclosed in the policies.
- Dr. Brockett testified that all three things that make up the individual claims -- the fees, the way the guaranteed interest worked, and the reduction in the monthly administrative charge -- he testified that it was all disclosed in the policy.
- ...
- Some people still don't read the documents, but
that doesn't mean that LSW intentionally concealed the relevant facts, and that's the claim here.
2014 0425 – DOC 813 – Trial Transcript – Day 12 – Walker v LSW – 224p