Phyllis W. Loss v. The Mutual Life Insurance Company of New York

In this diversity action, appellant-beneficiary seeks to recover the face amount, less an outstanding loan, of a life insurance policy which appellee-insurer claims had lapsed prior to the death of the insured. To avoid this consequence, the result of the insured’s admitted failure to pay premiums, appellant advances numerous theories, namely, that appellee incorrectly advised the insured that a cash payment was required to satisfy a premium payment; that appellee failed to give the required notice that outstanding loans and interest would equal or exceed the policy’s loan value; that…