Special Interest

Henderson, Jr., Donald B.; Tam, Allison J.
April 2011
Best's Review;Apr2011, Vol. 111 Issue 12, p58
Trade Publication
The article focuses on the New York court's ruling in a case regarding stranger-owned life insurance (STOLI). The New York court, in Alice Kramer v. Phoenix Life Insurance Co. et al, ruled that the state's insurable interest law is not violated in STOLI if the insured is the applicant in the insurance policy. It informs that a new law regarding life insurance policies has been passed in the U.S. that requires an insurable interest in the life of the insured while the policy is purchased.


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