Court: Lapsed life insurance is no life insurance
July 23, 2013 by Steven A. Meyerowitz
A federal district court in South Carolina has ruled that an insured’s failure to make payments on his life insurance policy led it to lapse before his death. The court rejected the insured’s widow’s contentions that the insurer had not properly notified the insured of the lapse and had not acted in good faith.
The case
For many years prior to his death on June 12, 2010, William R. Wactor (the Decedent) had a life insurance policy issued by Jackson National Life Insurance Company. Click here to read…
Originally Posted at LifeHealthPro on July 17, 2013 by Steven A. Meyerowitz.
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