Dallas life insurance attorneys need to know this 1967, case from the Texas Supreme Court. The style is McFarland v. Franklin Life Ins. Co. Here is the relevant info. This appeal involves an asserted right to recover a twelve per cent penalty and attorney’s fees under the Texas Prompt Payment…
Attorneys in Parker County and elsewhere need to have an understanding of the issues coming up surrounding the effective date of a life insurance policy. A 1980, Texas Supreme Court opinion gives some guidance on this issue. The style of the case is Life Insurance Company of the Southwest v.…
Grand Prairie insurance attorneys need to know what is prohibited to be put in a life insurance policy by an insurance company. The Texas Insurance Code has sections that say what some of these prohibitions are. Some of the more important sections are Texas Insurance Code, Sections 705.001 through 705.004.…
Fort Worth life insurance attorneys need to know the areas of dispute concerning life insurance policies. Life insurance coverage is pretty plain to understand. If the person whose life is covered under a life insurance policy dies, then the insurance company is to pay benefits to the named insured. Here…
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…