Mollett v. United Benefit Life Insurance

(dissenting)—I am compelled to dissent. It is a fundamental tenet of insurance contract law that one who has been irrevocably designated a beneficiary of a life insurance policy acquires a vested interest in the proceeds thereof, which can neither be impaired nor extinguished by the insured, nor by the insurer, nor by the two acting together. 4 R. Anderson, Couch on Insurance 2d § 27:56 (1960); 2 J. Appleman, Insurance Law and Practice § 911 (1966). Through the years, no decision in this jurisdiction has in the slightest degree altered this basic tenet. Massachusetts Mut. Life Ins. Co. v.…