August 28, 2026
A life insurer breached its duty by refusing to pay out death benefits under two $5 million policies to a wealth and investment management provider based on uncertainty over the insured's age, a Delaware federal court ruled Friday.
May 22, 2023
A wealth and investment management provider can't collect the death benefits under two $5 million life insurance policies, a life insurer told a Delaware federal court, saying the cash surrender value is appropriate because the insured outlived the policies, despite the ages provided on the applications.