We previously reported in detail on New Jersey’s recent case law addressing the validity of stranger-originated life insurance (STOLI) policies in the June 2019 and December 2019 issues of Expect Focus – Life, Annuity, and...more
We previously reported on the New Jersey Supreme Court’s ruling on the validity of stranger-originated life insurance (STOLI) policies in the June 2019 issue of Expect Focus — Life, Annuity, and Retirement Solutions....more
2/7/2020
/ Beneficiaries ,
Consumer Insurance Products ,
Contested Proceedings ,
Insurable Interests ,
Insurance Litigation ,
Life Insurance ,
Policy Violations ,
Public Policy ,
State and Local Government ,
Statutory Requirements ,
STOLI ,
Sun Life Assurance Company of Canada ,
Trusts ,
Void Contracts ,
Wells Fargo
The New Jersey Supreme Court recently held stranger-originated life insurance (STOLI) policies void as against public policy. In Sun Life Assurance Co. of Canada v. Wells Fargo Bank, N.A., a $5 million policy was taken out on...more