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Tag Archives: life insurance

Domestic Relations – Arbitration – Equitable Distribution – Passive Increase in Value – Life Insurance – Retirement Accounts – Mortgage Reduction (access required)

Kiell v. Kiell The record shows that the increase in the value of two life insurance policies was approximately twice the amount of the premiums paid during the post-separation period. Policy statements from the insurer clarify that approximately half the increase in the policies’ values during this period was from interest and dividends. The arbitrator erred in finding that there was no passive post-separation appreciation in the value of the life insurance policies.

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Bankruptcy – Exemptions – Life Insurance – Beneficiary – Trust – Payment to Unsecured Creditors (access required)

In re Foster Where the beneficiary of the debtors’ life insurance policies is a trust, and where the trust authorizes payments to the unsecured creditors of the debtor-decedent - creditors who would otherwise have been barred from accessing such funds by the protection offered under N.C. Const. art. X, § 5 - such a trust is not for the “sole use and benefit” of the debtor’s spouse and children, as contemplated by art. X, § 5. The court sustains the trustee’s objection to exemptions claimed in the debtors’ life insurance policies.

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Labor & Employment – ERISA – Life Insurance – Benefits Denied – Premiums Refunded (access required)

McCravy v. Metropolitan Life Ins. Co. A bank employee who paid for life insurance for her daughter through her employee benefit plan, but who was denied insurance benefits when her 25-year-old daughter died, is not entitled to the insurance proceeds as "equitable relief" for the insurance carrier's breach of fiduciary duty after the daughter was no longer eligible for the insurance; the 4th Circuit says plaintiff only gets a refund of the premiums she paid.

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