Fort Worth life insurance attorneys should know this – but here goes with a reminder. The most common life insurance types are term, whole life, and universal life. “Term” life insurance policies simply provide a death benefit in return for a premium payment. At the end of the policy year,…
Fort Worth life insurance attorneys and those in Dallas and Weatherford need to know what the requirements are in a policy. Texas Insurance Code, Section 1101.002(a), tells us life insurance policies must contain several prescribed provisions. These required provisions according to the Texas Insurance Code, generally include: (a) Section 1101.003…
Grand Prairie lawyers need to understand the legal purpose for insurance so that they can better advise clients about their cases. The purpose for insurance is to compensate for a loss. It is not a way of gambling. The United States Supreme Court said in 1866, that an insurable interest…
Fort Worth life insurance lawyers may already know some of this – but just in case, here goes. Life insurance pays a stated amount of benefits to the beneficiary upon the insured person’s death. The beneficiary is usually relatives but can be business partners and creditors. Usually, the policy has…
Dallas insurance lawyers need to be able to understand and explain what an “insurable interest” is when asked. A 1972, Amarillo Court of Appeals case helps explain an insurable interest. The style of the case is, North River Ins. Co. v. Fisher. Here is some information to know: This litigation…
Fort Worth life insurance attorneys need to know about this case. It is an opinion issued by the U.S. 5th Circuit Court of Appeals in 2005. It is styled, Monumental Life Insurance Company v. Hayes Jenkins. Here are some facts: In November 2000, the insureds, husband and wife, purchased a…
Dallas life insurance attorneys need to read and know this case. It is an opinion issued by the Texas Supreme Court in 1990. The style of the case is Koral Industries v. Security Connecticut Life Insurance Co. Here are some of the facts: Koral Industries sought a new life insurance…
Dallas life insurance lawyers need to know this case. The case is styled Lilly Sharp v. Lincoln American Life Insurance Company. The opinion was issued by the Corpus Christi Court of Appeals in 1988. This lawsuit was filed by Lilly Sharp after the death of her daughter. Lincoln had denied…
Fort Worth life insurance attorneys need to know this case. The case is styled Republic-Vanguard Life Insurance Company v. Beth Walters. It is a 1987, opinion from the 1st District Court of Appeals. Here is some background. In 1981, the deceased, James Walters, applied to Republic for mortgage protection insurance.…
Fort Worth insurance attorneys need to keep up with what is going on in the insurance community. Reuters recently published an article titled “Insurance Industry Woes Hit Consumers.” The article starts out telling us something obvious: Nobody wants to feel sorry for life insurance companies. They are just the annoying…