Lincoln Life Policies Valid Despite Scheme: Judge

Law360, New York (July 14, 2009, 12:00 AM EDT) -- A federal judge in California has found that life insurance policies issued by the Lincoln National Life Insurance Co. to a wealthy doctor’s trust, and later assigned to a financing company, are valid despite being sought under an alleged scheme to skirt the state’s laws on stranger-originated life insurance.

Judge Stephen G. Larson issued a ruling on Friday in the U.S. District Court for the Central District of California granting summary judgment to financing and investment firms Mutual Credit Corp. and Spurling Group II LLC regarding...
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